A$10,000commercialbondthathasa10%bondrateand matures in 5
Chapter , Problem 12-8(choose chapter or problem)
A$10,000commercialbondthathasa10%bondrateand matures in 5 years can be purchased for $8000.Interest is paid at the end of each year for the next 5years. Find the annual after-tax rate of return of thisinvestment. Assume a 35% tax rate applies.Contributed by D. P. Loucks,Cornell University
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