If a corporation has an average tax rate of 40 percent, the approximat
If a corporation has an average tax rate of 40 percent, the approximate annual, after-tax cost of debt for a 10-year, 8 percent, $1,000 par value bond selling at $1,150 is ________.
A) 3.6 percent
B) 4.8 percent
C) 6 percent
D) 8 percent
ANSWER
A
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