Multiple Choice
Midget Digit Toe Doctors is planning to refund a 30-year bond issue. It will replace $1,500,000 of 10.25% bonds with 6.25% bonds. The firm is in the 40% tax bracket. What is the savings on the refunding?
A) $515,100
B) $646,310
C) $725,600
D) $815,170
Correct Answer:
Verified
Correct Answer:
Verified
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