iminy’s Cricket Farm issued a 30-year, 8 percent semiannual bond 3 years ago The bond currently sells for 93 percent of its face value The company’s tax rate is 35 percent Suppose the book value of the debt issue is $60 million In addition, the company has a second debt issue on the market, a zero coupon bond with 10 years left to maturity; the book value of this issue is $35 million, and the bonds sell for 57 percent of par

What is the company’s total book value of debt?

What is the company’s total market value of debt?

What is your best estimate of the aftertax cost of debt?

In this day and age, we are finding mature adults going back to school to change career directions There are many who think that this is a waste of time because of how difficult it is to learn something new at an older age Using the concepts from psychology, how would you respond to this critic?


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