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QUESTION
A corporation has outstanding bonds with an 11% coupon rate and a 9% yield to maturity.The corporation assumes that newly issued debt would require a...
A corporation has outstanding bonds with an 11% coupon rate and a 9% yield to maturity. The corporation assumes that newly issued debt would require a similar yield to maturity. If the marginal tax rate is 40%, what is the firm's after-tax cost of debt?
