rate Bondsconsider the following scenario: ABC com Consider the following scenario: ABC company pays federal income taxes at a rate of 35% on taxable income Write a 200- to 350-word paper in APA format in which you complete the following: . Briefly explain the income tax advantage of raising capital by issuing bonds rather than selling capital stock Compute the company's annual after-tax cost of borrowing on an 8%, $5 million bond issue, Express this after-tax cost as a percentage of the borrowed $5 million Include your calculations