Question: Please help Micro Spinoffs Incorporated issued 20-year debt a year ago at par value with a coupon rate of 5%, paid annually. Today, the debt

Please help Micro Spinoffs Incorporated issued 20-year debt a year ago

Please help

Micro Spinoffs Incorporated issued 20-year debt a year ago at par value with a coupon rate of 5%, paid annually. Today, the debt is selling at $1,140. If the firm's tax bracket is 21%, what is its percentage cost of debt? Assume a face value of $1,000. Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Micro Spinoffs Incorporated issued 20-year debt a year ago at par value with a coupon rate of 5%, paid annually. Today, the debt is selling at $1,140. If the firm's tax bracket is 21%, what is its percentage cost of debt? Assume a face value of $1,000. Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places

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