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11. The Carriage House issued 10-year, 8 percent annual bonds 3 years ago. The bonds currently sell at 99.5 percent of face value. What is

11.

The Carriage House issued 10-year, 8 percent annual bonds 3 years ago. The bonds currently sell at 99.5 percent of face value. What is the firm's aftertax cost of debt if the tax rate is 32 percent?

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