The approximate before-tax cost of debt for a 15-year, 10 percent, $1,
The approximate before-tax cost of debt for a 15-year, 10 percent, $1,000 par value bond selling at $950 is ________.
A) 10 percent
B) 10.7 percent
C) 12 percent
D) 15.4 percent
ANSWER
B
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