Suppose a company issued 30-year bonds 4 years ago, when the yield curve was inverted. Since then long-term rates…

Suppose a company issued 30-year bonds 4 years ago, when the yield curve was inverted. Since then long-term rates (10 years or longer) have remained constant, but the yield curve has resumed its normal upward slope. Under such conditions, a bond refunding would almost certainly be profitable. true or false