show work please 2. A new series of bonds to finance equipment is to...
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show work please
2. A new series of bonds to finance equipment is to be issued by Delay, Linger, and Wait Airlines. Each bond will have a face value of $10,000 and will bear a coupon rate of 8% per year paid quarterly, and the bond series matures in 15 years. The bid price by the successful underwriter is $9,000 per bond, less marketing expenses of $5 per bond. If the airline's effective income tax is 21%, what is the effective after-tax cost of this new borrowed capital
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