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3) PV of CCATs NPVF: 1) NPVFTaxSubsidyToDebt = Amount borrowed - PV of After Tax interest pa 1. Perpetuity BXTB X (1 - Tc) NPVFTaxSubsidyToDebt

3) PV of CCATs NPVF: 1) NPVFTaxSubsidyToDebt = Amount borrowed - PV of After Tax interest pa 1. Perpetuity BXTB X (1 - Tc) NPVFTaxSubsidyToDebt = B - (1 + 2. Annuity BXTB X (1 - Tc) NPVFTaxSubsidyToDe...

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