Question: please provide shown work and the correct answer as I have just paid to submit this question. thank you for your time and help! 3.

please provide shown work and the correct answer as I have just paid to submit this question. thank you for your time and help!

3. The Dayton Corporation is considering a new investment, which would be financed from debt. Dayton could sell new $1k par value bonds at a new price of $950. The bonds would mature in 15 years, and the coupon interest rate is 10%, Compute the after-tax cost of capital to Dayton for bonds, assuming a 349% tax rate. Show work

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