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QUESTION
The other bond issue has a maturity of 15 years. With coupons also paid annually, and a coupon rate of 10%. The face value of the issue is $25...
The other bond issue has a maturity of 15 years. With coupons also paid annually, and a coupon rate of 10%. The face value of the issue is $25 million, and the issue sells for 94% of par value. The firm’s tax rate is 35%.
