It seems that the most commonly tested question regarding share repurchases is whether a debt-financed share repurchased will increase or decrease EPS. To determine this, you just compare earnings yield to the after-tax cost of debt used for the repurchase. I was curious whether, in addition to this relationship between after-tax cost of debt and earnings yield, there is any significant relationship between the after-tax cost of debt and the cost of equity.
Bump.