What is the price of a 11-year bond paying 5 % annual coupons with a face (par) value of $1,000 if the market rates for these bonds are 6.4 %? Answer to the nearest cent.
A firm issues a 20-year semi-annual payment bond, which is priced at $1213.55. The coupon rate of the bond is 9.00%. The tax rate is 38 percent. What is the after-tax cost of debt?
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