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(Cost of debt) Temple-Midland, Inc. is issuing a $1000 par value bond that pays 8 percent annual interest and matures in 15 years. Investors are
(Cost of debt) Temple-Midland, Inc. is issuing a $1000 par value bond that pays 8 percent annual interest and matures in 15 years. Investors are willing to pay $950 for the bond and Temple faces a tax rate of 35 percent. What is Temple's after-tax cost of debt on the bond
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College Mathematics For Business Economics, Life Sciences, And Social Sciences
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
14th Edition
0134674146, 978-0134674148
