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what is the benefit of these bonds to firm if there is no corporate tax rate for company ABC which has decided to issue bonds

what is the benefit of these bonds to firm if there is no corporate tax rate for company ABC which has decided to issue bonds worth USD 300 million? This will be paid in full by the end of the project's period of 4 years? The cost of debt for the firm based on its creditworthiness is 20%. Gov debt at 0%.

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