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Triplin Corporation can issue 20-year bonds with a coupon rate of 7.0%. The market price of the bonds is $978. Flotation costs for a new

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Triplin Corporation can issue 20-year bonds with a coupon rate of 7.0%. The market price of the bonds is $978. Flotation costs for a new issue would be approximately 5.0% of the market price. Triplin Corporation's marginal tax rate is 35%. Determine the after-tax cost of debt Flotation=1 NP- FV- N. PMT- PV= 1/ After-tax cost

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