Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.
QUESTION
Final Q 14
Question 14
Great Seneca Inc sells $100 million worth of 29 year to maturity 10.59% annual coupon bonds. The net proceeds (proceeds after flotation costs) are $980 for each $1,000 bond. The Firm's marginal tax rate is 30%. What is the after-tax cost of capital for this debt financing?
Use excel or financial calculator
Round answer to two decimal places in percentage form
