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Assuming a tax rate of 21%, the after-tax cost of interest expense of $1,010,000 is
Assuming a tax rate of 21%, the after-tax cost of interest expense of $1,010,000 is
Expert Solution
Computation of After-tax Cost of Interest Expense:
After-tax Cost of Interest Expense = Interest Expense*(1-Tax Rate)
= $1,010,000*(1-0.21)
= $797,900
So, After-tax Cost of Interest Expense is $797,900.
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