请教一到cost of capital里的题

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答案就是7*（1-0.4）＝4.2%
有点理解不了这个含义。。麻烦可否解答下，谢谢！

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关键词：Capital capita Capi Cost cos capital

I suppose you issue new debt to pay back your original debt. And since your new issue is priced at par, so implying your yield is the same as your 7% of coupon. And yield is your pre-tax cost of capital.

henrytata 发表于 2016-1-30 11:18
I suppose you issue new debt to pay back your original debt. And since your new issue is priced at p ...

Oh, so you mean the reason why there is no other debt outstanding is that by issuing the new debt the company can pay back the bonds issued two years ago? I guess that makes sense. Thank you very much!