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. Calculate the after-tax cost of a $25 million debt issue that Pullman Manufacturing Corporation (35% marginal tax rate) is planning to place privately with

. Calculate the after-tax cost of a $25 million debt issue that

Pullman Manufacturing Corporation (35% marginal tax rate) is planning

to place privately with a large insurance company. This long-term issue

will yield 8.25 percent to the insurance company.

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