Midget Digit Toe Doctors is planning to refund a 30 year bond issue.They will replace $1,500,000 of 10.25% bonds with 6.25% bonds.The firm is in the 40% tax bracket.What is the savings on the refunding?
A)$515,100
B)$646,310
C)$725,600
D)$815,170

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The Answer of Midget Digit Toe Doctors is planning to refund a 30 year bond issue.They will replace $1,500,000 of 10.25% bonds with 6.25% bonds.The firm is in the 40% tax bracket.What is the savings on the refunding?
A)$515,100
B)$646,310
C)$725,600
D)$815,170

Midget Digit Toe Doctors Is Planning to Refund a 30