1 the millennium charitable foundation which is tax-exempt, Ask an Expert

Finance

1. The Millennium Charitable Foundation, which is tax-exempt, issued debt at 9.2% percent to finance a new playground facility in Chicago. If the foundation’s tax rate is 35%, what would be the after-tax cost of debt?

2. Goble Builders has a $1,000 par value bond outstanding with 20 years to maturity. The bond has a coupon rate of 8% and is currently selling for $950. What is the yield to maturity? (Before-tax figures are fine).

3. Brown Motor Company issued $100 par value preferred stock 12 years ago. The stock provided a 9 percent yield at the time of issue. The preferred stock is now selling for $82. What is the current yield or cost of the preferred stock?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92313046

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