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Business, 25.11.2021 07:10 mitalichavez1

On January 1, Year 1, Brown Company issued bonds with a face value of $103,000, a stated rate of interest of 10%, and a 20-year term to maturity. The bonds were issued at face value. If Brown's tax rate is 40%, what is the after-tax cost of borrowing related to these bonds for Year 1

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