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?
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakin
7th Global Edition
0273754440, 9780273754442
