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The Holmes Company's currently outstanding bonds have a 10\% coupon and a 13% yield to...

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Accounting

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The Holmes Company's currently outstanding bonds have a 10\% coupon and a 13% yield to maturity. Holmes believes it could issue new bonds at par that would provide a similar yield to maturity. If its marginal tax 25%, whate is of debt? Round your answer to two decimal places. %

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