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Curtis Ltd. issued $100,000 of 8% bonds at face value on October 1, 2020. Interest is paid each March 31 and September 30. If Curtis's
Curtis Ltd. issued $100,000 of 8% bonds at face value on October 1, 2020. Interest is paid each March 31 and September 30. If Curtis's tax rate is 40%, what is the annual after-tax borrowing cost (a) in percentage terms and (b) in dollars
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