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The coupon rate on an issue of debt is 9% . The yield to maturity on this issue is 10% . The corporate tax rate

The coupon rate on an issue of debt is

9%

. The yield to maturity on this issue is

10%

. The corporate tax rate is

35%

. What would be the approximate after-tax cost of\ debt for a new issue of bonds? (Round your answer to 2 decimal places.)

The coupon rate on an issue of debt is 9%. The yield to maturity on this issue is 10%. The corporate tax rate is 35%. What would be the approximate after-tax cost of debt for a new issue of bonds? (Round your answer to 2 decimal places.)

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