Cost of debt belton distribution company is issuing a 1000, Financial Management

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Cost of debt belton distribution company is issuing a 1000

(cost of debt) Belton Distribution Company is issuing a $1,000 par value bond that pays 7.0 percent annual interest and matures in 15 years that is paid semi annually. Investors are willing to pay $958 for the bond. The company is in the 18 percent marginal tax bracket. What is the firm's after-tax cost of debt on the bond?

The firm's after-tax cost of debt on the bond is? %.

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Financial Management: Cost of debt belton distribution company is issuing a 1000

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