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john
in the examiners answer
she has not taken into account the tax relief on cost of bonds without the new issueclear me john
is this a mistake by the examiner not taking out the tax?It is because the question says that 7% is the after-tax cost of debt, so the tax relief is already accounted for.
(Incidentally, the examiner is a he and not a she for F9 🙂 )
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