Suppose that LilyMac Photography expects EBIT to be approximately $72,000 per year for the foreseeab… Show more Suppose that LilyMac Photography expects EBIT to be approximately $72,000 per year for the foreseeable future, and that it has 300 10-year, 4 percent annual coupon bonds outstanding. (Use Table 11.1) What would the appropriate tax rate be for use in the calculation of the debt component of LilyMac’s WACC? • Show less