The June Bug has a $20,000,000 bond issue outstanding. These bonds have a 6 percent coupon, pay
Question:
The June Bug has a $20,000,000 bond issue outstanding. These bonds have a 6 percent coupon, pay interest semiannually in perpetuity, and have a current market price equal to 98.6 percent of face value. The tax rate is 39 percent. What is the amount of the after-tax annual interest payment made by the firm?
Answer options:
$732,000
$727,000
$782,000
$3,948
$747,000
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Related Book For 
Corporate Finance
ISBN: 978-0077861759
10th edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
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