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You have $10,000,000 on the balance sheet and earn a 3.0% after-tax return from the bank for the next 15 years, your tax-affected cost of
You have $10,000,000 on the balance sheet and earn a 3.0% after-tax return from the bank for the next 15 years, your tax-affected cost of capital (the appropriate discount rate to use) is 20%. Whatis the value of $10,300,000 to current shareholders?
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