Question

Ying Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed in the table below.

Bond	Coupon Rate	Price Quote	Maturity	Face Value
1	8.60%	105.6	6 years	$ 26,000,000
2	6.80	94.8	9 years	46,000,000
3	8.30	104.4	16.5 years	51,000,000
4	8.80	106.3	26 years	66,000,000

If the corporate tax rate is 21 percent, what is the aftertax cost of the company’s debt?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.

Answer 1

The 24 consonant sounds comprise six stops (plosives): p, b, t, d, k, g; the fricatives f, v, θ (as in thin), ð [eth] (as in then), s, z, ∫ [esh] (as in ship), Ʒ (as in pleasure), and h; two affricatives: t∫ (as in church) and dƷ (as the j in jam); the nasals m, n, ŋ (the sound that occurs at the end of words such as young); the lateral l; the postalveolar or retroflex r; and the semivowels j (often spelled y) and w. These remain fairly stable, but Inland Northern American differs from RP in two respects: (1) r following vowels is preserved in words such as door, flower, and harmony, whereas it is lost in RP; (2) t between vowels is voiced, so that metal and matter sound very much like British medal and madder, although the pronunciation of this t is softer and less aspirated, or breathy, than the d of British English.