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Maki Corp.'s 18% coupon 10-year bonds currently trade for $900. Find the firm's after-tax cost of debt if the tax rate is 40%. The correct
Maki Corp.'s 18% coupon 10-year bonds currently trade for $900. Find the firm's after-tax cost of debt if the tax rate is 40%.
The correct answer is 12.23. I would like to know why?
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Public Finance
Authors: Harvey S Rosen
7th Edition
0072876484, 978-0072876482
