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2. Eight years ago, Intel Ltd issued 8 per cent irredeemable bonds at their par value of 100. The current market price of these bonds

2. Eight years ago, Intel Ltd issued 8 per cent irredeemable bonds at their par value of 100. The current market price of these bonds is 92. If the company pays corporate tax at a rate of 30 per cent, what is its current cost of debt of the bonds?

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