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Help Quick! Collins Corporation is planning to sell a new $1,000...

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Finance

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Collins Corporation is planning to sell a new $1,000 face value, 11% coupon, 20 -year bond issue to investors who require a 11% rate of return. There would be no flotation cost, and Collins pays income taxes at a 21% rate. What is the cost of the new issue? 231% 21.00% 11.00%

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