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  • 25-05-2023
  • Business
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A $1,000 par value bond with a market price of $970 and a coupon interest rate of 10 %. Flotation costs for a new issue would be approximately 5 %. The bonds mature in 10 years and the corporate tax rate is 33 %. What is the cost of the bond for the company? a) 11.4%
b) 6.6 %
c) 7.6%
d) 3.3%

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