Can you please show me how to solve the following problems on a TI BA II Plus
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Question:
Can you please show me how to solve the following problems on a TI BA II Plus calculator:
Porky Pine Co. is issuing a $1,000 par value bond that pays 8.5% interest annually. Investors are expected to pay $1,100 for the 12-year bond. Porky will pay $50 per bond in flotation costs. What is the after-tax cost of the new debt if the firm is in the 35% tax bracket?
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