Question
Himiny's Cricket Farm Issued a 27-year, 11 percent semiannual bond 2 years ago. The bond currently sells for 92 percent of its face value. The
Himiny's Cricket Farm Issued a 27-year, 11 percent semiannual bond 2 years ago. The bond currently sells for 92 percent of its face value. The company's tax rate is 40 percent. What is the pretax cost of debt?
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Fundamentals Of Financial Management
Authors: James C. Van Horne
10th Edition
0138596875, 9780138596873
