Multiple Choice
Apple's 9% annual coupon bond has 10 years until maturity and the bonds are selling in the market for $790. If the firm's after-tax cost of debt is 8%, what was the firm's tax rate?
A) 23.11%
B) 34.50%
C) 44.50%
D) 37.74%
Correct Answer:
Verified
Correct Answer:
Verified
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