Multiple Choice
Apple's 9% annual coupon bond has 10 years until maturity and the bonds are selling in the market for $1190. If the firm's after-tax cost of debt is 5%, what was the firm's tax rate?
A) 21.51%
B) 34.50%
C) 44.50%
D) 36.50%
Correct Answer:
Verified
Correct Answer:
Verified
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