Abstract
We have analyzed by density functional theory calculations the structural and magnetic properties of Fe-Co alloys doped by carbon. In analogy with the formation of martensite in steels we predict that such a structure also forms for Fe-Co alloys in a wide range of concentrations. These alloys are predicted to have a stable tetragonal distortion, which in turn leads to an enhanced magnetocrystalline anisotropy energy of up to 0.75 MJ/m${}^{3}$ and a saturated magnetization field of 1.9 T.
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