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Answer:
After-tax cost of debt = 73.06%
Explanation:
Nper = 20*2 = 40
Pmt = 40
Pv = -847.87
Fv = 1000
Tax rate = 25%
<em>Firm's after-tax cost of debt is calculated as follow:</em>
After-tax cost of debt = RATE(Nper, Pmt, Pv, Fv) * (1-tax rate)
After-tax cost of debt = (RATE(20*2,40,-894.87,1000)*2)*(1-25%)
After-tax cost of debt = (0.048709771*2) * 0.75
After-tax cost of debt = 0.097419542 * 0.75
After-tax cost of debt = 0.0730646565
After-tax cost of debt = 73.06%
