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24. Problem 9-09 (Bond Yield and After-Tax Cost of Debt) eBook Bond Yield and After-Tax Cost of Debt A company's 4% coupon rate, semiannual payment,

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24. Problem 9-09 (Bond Yield and After-Tax Cost of Debt) eBook Bond Yield and After-Tax Cost of Debt A company's 4% coupon rate, semiannual payment, $1,000 par value bond that matures in 20 years sells at a price of $604.14. The company's federal-plus-state tax rate is 23% What is the firm's after-tax component cost of debt for purposes of calculating the WACC (Hines Base your answer on the nominal rate.) Round your answer to one decimal place %

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