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For each of the following 1000-par-value bond assuming

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For each of the following $1000-par-value bond, assuming annual interest payment and a 40% tax rate, calculate the after-tax cost to maturity using the approximation formula.

Bond

Life

Underwriting fee

Discount (-) or Premium (+)

Coupon interest rate

A

20-years

$25

-$20

9%

B

16

40

+10

10%

C

15

30

-15

12%

D

25

15

Par

9

E

22

20

-60

11

 

 

Reference no: EM13355662

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