22 Jul WHAT IS YOUR BEST ESTIMATE OF THE AFTER TAX COST OF DEBT?
Shanken Corp. issued a 30-year 6.2 percent semiannual bond 7 years ago. The bond currently sells fo Show more Shanken Corp. issued a 30-year 6.2 percent semiannual bond 7 years ago. The bond currently sells for 108 percent of its face value. The companys tax rate is 35 percent. The book value of the debt issue is $70 million. In addition the company has a second debt issue on the market a zero coupon bond with 12 years left to maturity; the book value of this issue is $100 million and the bonds sell for 61 percent of par. What is the companys total book value of debt? Total book value $ What is the companys total market value of debt? Total market value $ What is your best estimate of the after tax cost of debt? Cost of debt % Show less
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