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Cost of debt using the approximation formula For the following $1,000-par-value bond, assuming annual interest payment and a 25% tax rate, calculate the after-tax cost

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Cost of debt using the approximation formula For the following $1,000-par-value bond, assuming annual interest payment and a 25% tax rate, calculate the after-tax cost to maturity using the approximation formula. Discount (-) or Coupon ing fee premium+interest rate $40 Life 10 years $20 9%

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