Question: 4 Cost of debt using the approximation formula For each of the following $1,00 value bonds, assuming annual interest payment and a 21% tax rate,

4 Cost of debt using the approximation formula For each of the following $1,00 value bonds, assuming annual interest payment and a 21% tax rate, calculate the after-tax cost to maturity, using the approximation formula. Life Discount (- Coupon Bond (years) Underwriting fee or premium (+) interest rate 20 16 15 25 $25 40 30 15 20 -$20 +10 -15 par -60 9% 10 12

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