A corporation borrows $1,000,000 at 10 percent annual rate of interest
A corporation borrows $1,000,000 at 10 percent annual rate of interest. The firm has a 40 percent tax rate. The yearly, after-tax cost of this debt is ________.
A) $40,000
B) $60,000
C) $100,000
D) $166,667
ANSWER
B
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