Question
Himiny's Cricket Farm Issued a 25-year, 16 percent semiannual bond 3 years ago. The bond currently sells for 89 percent of its face value. The
Himiny's Cricket Farm Issued a 25-year, 16 percent semiannual bond 3 years ago. The bond currently sells for 89 percent of its face value. The company's tax rate is 33 percent. What is the pretax cost of debt? Do not round intermediate calculations.
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Finance For Nonfinancial Managers
Authors: Gene Siciliano
2nd Edition
0071824367, 978-0071824361
