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es Problem 11-3 Tax Rate (LG11-3) Suppose that LilyMac Photography expects EBIT to be approximately $825,000 per year for the foreseeable future, and that

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es Problem 11-3 Tax Rate (LG11-3) Suppose that LilyMac Photography expects EBIT to be approximately $825,000 per year for the foreseeable future, and that it has 2,000 10-year, 10 percent annual coupon bonds outstanding. What would the appropriate tax rate be for use in the calculation of the debt component of LilyMac's WACC? Tax rate %

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