A firm plans to issue $1 million worth of debt at an YTM of 9%. The debt Is trading at par. The firm's marginal corporate tax rate is 25%. By how much will this debt issuance reduce the firm's annual tax liability?
A. 90,000
B. 22,500
C, 67,500
D.45,000
which one is correct ??
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the correct answer is 67,500
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