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Connect Only Problem 11-3 Tax Rate (LGT1-3) PDQ,incorporated expects EBIT to be approximately $11.4 million per year for the foreseeable future, and it has 20,00020

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Connect Only Problem 11-3 Tax Rate (LGT1-3) PDQ,incorporated expects EBIT to be approximately $11.4 million per year for the foreseeable future, and it has 20,00020 -year, 10 percent annual coupon bonds outstanding. (Use Table 111.) What would the approptiate tax rate be for use in the calculation of the debt component of PDQ's WACC? Note: Round your answer to 2 decimal places

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