borrowing money from Superior National Bank to finance the construction of a new plant in Wisconsin. The bank will loan them $1,518.207 at 10% interest per year, compounded monthly. Find the after tax cost (effective yearly percentage rate) of raising capital by using this loan if the corporate tax rate is 30%?

Essentials Of Investments
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ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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Pls help with below homework.

KLC Mining is borrowing money from Superior National Bank to finance the construction of a new plant in Wisconsin. The bank will loan them $1,518.207 at 10% interest per year, compounded monthly.

Find the after tax cost (effective yearly percentage rate) of raising capital by using this loan if the corporate tax rate is 30%? 

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