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Temple - Midland, Inc. is issuing a $ 1 , 0 0 0 par value bond that pays 7 . 5 percent annual interest and

Temple $-$ Midland, Inc. is issuing a $ $1, 000$ par value bond that pays $7.5$ percent annual interest and matures in $15$ years. Investors are willing to pay $ $951$ for the bond and Temple faces a tax rate of $34$ percent. What is Temple's after $-$ tax cost of debt on the bond?

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Temple - Midland, Inc. is issuing a $ 1 , 0 0 0 par value bond that pays 7 . 5 percent annual interest and

Temple-Midland, Inc. is issuing a $1,000 par value bond that pays 7.5 percent annual interest and matures in 15 years. Investors are willing to pay $951 for the bond and Temple faces a tax rate of 34 percent. What is Temple's after-tax cost of debt on the bond?

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Temple $-$ Midland, Inc. is issuing a $ $1, 000$ par value bond that pays $7.5$ percent annual interest and matures in $15$ years. Investors are willing to pay $ $951$ for the bond and Temple faces a tax rate of $34$ percent. What is Temple's after $-$ tax cost of debt on the bond?