Calculate the after-tax cost of this bank loan to nationwide

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Problem 1: Nationwide Bakers, Inc. obtained a long-term loan from Security State Bank to purchase new conveyors for its production facilities. The interest rate on this loan is 10%. Nationwide Bakers has a 31% effective tax rate. Calculate the after-tax cost of this bank loan to Nationwide Bakers.

Reference no: EM132877426

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