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Suppose that LilyMac Photography expects EBIT to be approximately $ 5 0 0 , 0 0 0 per year for the foreseeable future, and that

Suppose that LilyMac Photography expects EBIT to be approximately $500,000 per year for the foreseeable future, and that it has 2,00010-year, 8 percent annual coupon bonds outstanding.What would the appropriate tax rate be for use in the calculation of the debt component of LilyMacs WACC?

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