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USA Manufacturing issued 30-year, 7.2 percent semiannual bonds 6 years ago. The bonds currently sell at 101 percent of face value. What is the firm's
USA Manufacturing issued 30-year, 7.2 percent semiannual bonds 6 years ago. The bonds currently sell at 101 percent of face value. What is the firm's after-tax cost of debt if the tax rate is 21 percent?
Round to two digits and fill in the numbers ONLY. For example, 88.8888% would be rounded to 88.89%, and the answer would be 88.89 without the percentage symbol.
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