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Start learning 50% faster. Sign in nowIn case of a redeemable long term debt, the cost of debt is the investor’s yield to maturity adjusted by the firm’s tax rate. The question of yield to maturity arises only when the loan is taken either at discount or at premium. As such, the YTM is considered as cost of debt here and not the coupon rate. Therefore, the after-tax cost is: 15% * (1- 40%) = 0.09 ~ 9%
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