Suspect Corp. issued a bond with a maturity of 30 years and a semiannual coupon rate of 6 percent 4 years ago. The bond currently sells for 95 percent of its face value. The book value of the debt issue is $45 million. In addition, the company has a second debt issue on the market, a zero coupon bond with 15 years left to maturity; the book value of this issue is $50 million and the bonds sell for 54 percent of par. The company’s tax rate is 40 percent. Required:a. What is the company’s total book value of debt?b. What is the company’s total market value of debt? c. What is your best estimate of the aftertax cost of debt?
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Suspect Corp. issued a bond with a maturity of 30 years and a semiannual coupon rate of 6 percent 4...
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