Question
Temple-Midland, Inc. is issuing a $1,000 par value bond that pays 8.5 percent annual interest and matures in 15 years. Investors are willing to pay
Temple-Midland, Inc. is issuing a $1,000 par value bond that pays 8.5 percent annual interest and matures in 15 years. Investors are willing to pay $949 for the bond and Temple faces a tax rate of 23 percent. What is Temple's after-tax cost of debt on the bond?
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Promoting Microfinance Challenges And Innovations In Developing Countries And Countries In Transition
Authors: R. Manos , J. Gueyie, J. Yaron
1st Edition
1137034904, 1137034912, 9781137034908, 9781137034915
