A number of European countries have adopted a flat tax. These countries (as of 2

A number of European countries have adopted a flat tax. These countries (as of 2007) include Estonia with a rate of 24% Latvia 25% Russia 13% Ukraine 13% Slovakia 19% and Romania 16% Georgia 12% and Serbia 14%. As an aside Slovakia collected 10% more income tax than expected and the number of new firms registering in Slovakia jumped 12%.What impact do you think a flat tax has on the cost of capital for firms raising money in the flat-tax countries? Will it have further-reaching ramifications?Has Turkey considered a flat tax? Explain.Additional RequirementsLevel of Detail: Only answer neededOther Requirements: Only need about a half page or less. Please list references.