Too Young, Inc., has a bond outstanding with a coupon rate of 6.9 percent and semiannual...
Too Young, Inc., has a bond outstanding with a coupon rate of 6.9 percent and semiannual payments. The bond currently sells for $1,905 and matures in 15 years. The par value is $2,000. What is the company's pretax cost of debt?
Please explain step by step without excel
Homework Answers
Calculating Yield to Maturity,
Using TVM Calculation,
I =[FV = 2,000, PV = -1,905, N = 30, PMT = 69]
I = 7.43%
Pre tax cost of debt = 7.43%
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