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3) Jakes Farm Park issued a 20 year, 5.8% quarterly bond 5 years ago. The bond currently sells for 95% of its face value. The

3) Jakes Farm Park issued a 20 year, 5.8% quarterly bond 5 years ago. The bond currently sells for 95% of its face value. The companys tax rate is 21%. What is the pre-tax and after-tax cost of debt?

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