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Estimate the market value of the debt

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Problem - Holton Holdings has no market-traded debt. The firm does, however, have $1.5 billion in book debt and an interest expense of $ 40 million. If the debt has an average maturity of 4 years, and the fair market rate for debt for the firm is 7%, tax rate is 40%, estimate the market value of the debt.

Reference no: EM132849553

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