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A bond that has a $1,000 par value (face value) and a contract or coupon interest rate of 11.1 percent that is paid semiannually. The
A bond that has a $1,000 par value (face value) and a contract or coupon interest rate of 11.1
percent that is paid semiannually. The bond is currently selling for a price of $1,126 and will mature in
10 years. The firm's tax rate is 34 percent. The after tax cost of debt from the firm is ____%
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