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15 years to maturity. The coupon rate= 12%. Coupons paid semiannually and the current selling price is $1732 Corporate tax rate is 35%. Flotation cost

15 years to maturity. The coupon rate= 12%. Coupons paid semiannually and the current selling price is $1732 Corporate tax rate is 35%. Flotation cost = 5%. What is the after tax cost of debt?

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