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A corporation is considering issuing long-term debt. The debt would have a 30 years maturity and a 10 percent...

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Business and Finance

2014-12-18 04:50:47

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A corporation is considering issuing long-term debt. The debt would have a 30 years maturity and a 10 percent coupon rate. In order to sell the issue, the bonds must be underpriced at discount of 5 percent of face value. In addition, the firm would have to pay flotation costs of 5 face value percent firm’s tax rate 35%. Given this information, the after tax of debt for the corporation.

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