How do you solve PVIFA on excel?

6.) Calculating Cost of Debt [LO2] Viserion, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 23 years to maturity that is quoted at 103 percent of face value. The issue makes semiannual payments and has an embedded cost of 6 percent annually. What is the company's pretax cost of debt? If the tax rate is 21 percent, what is the aftertax cost of debt? The pretax cost of debt is the YTM of the company's bonds, so: =(1-(1+Interest_Rate)^- Number_of_Repayments)/Interest_Rate - Po = $1,030 = $30(PVIFAR%,46) +$1,000(PVIFR%,46) R=2.881% YTM = 2 x 2.881% YTM = 5.76% PVIFA = (1 - (1 + r)^-n) / r. + And the aftertax cost of debt is: FIGURE PVIFA OUT RD= .0576(1 .21) RD = .0455, or 4.55% =