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One more question concerning Okan:
Examiner, in his answer, calculated the annual tax shield based on net borrowed amt required – 2.1% x Y$ 24,538,000 x 20%.
I would assume the 3% issue costs are to be borrowed and interest accrued on the gross loan amt like this – 2.1% x Y$ 24,538,000/0.97 x 20%.
According to marking scheme, this is one mark, would I earn it?
thank you in advance
Viewing 4 posts - 1 through 4 (of 4 total)