Problem4: You now need to calculate the cost of debt for Apple Inc. Go to www.finra.org. Click on the ‘Investors’ link, then the ‘Market Data’ link, then the ‘Bonds’ link. Using the ‘Quick Search’, select ‘Corporate’ under the Debt/Asset Class, and enter AAPL. For each bond issue, find its last trade price, last trade yield, and outstanding book value (amount outstanding). Calculate the market value of each issue and the total market value of the outstanding bonds. What is the weighted average cost of debt for Apple using the book value weights and the market value weights? Does it make a difference in this case if you use book value weights or market value weights?
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