Black Hill Inc. sells $100 million worth of 29-year to maturity 10.59% annual coupon bonds. The net proceeds (proceeds after flotation costs) are $980 for
Black Hill Inc. sells $100 million worth of 29-year to maturity 10.59% annual coupon bonds. The net proceeds (proceeds after flotation costs) are $980 for each $1,000 bond. What is the before-tax cost of capital for this debt financing?
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Authors: Judith J. Baker, R.W. Baker
3rd Edition
076377894X, 978-0763778941
