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QUESTION
LL Incorporated's currently outstanding 8% coupon bonds have a yield to maturity of 14. LL believes it could issue new bonds at par that would...
LL Incorporated's currently outstanding 8% coupon bonds have a yield to maturity of 14.72%. LL believes it could issue new bonds at par that would provide a similar yield to maturity. If its marginal tax rate is 27.00%, what is LL's after-tax cost of debt?
