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A bond that has a $1000 par value (face value) and a contract or coupon interest rate of 12.4%. The bonds have a current market

A bond that has a $1000 par value (face value) and a contract or coupon interest rate of 12.4%. The bonds have a current market value of $1124 and will mature in 10 years. The firm's marginal tax rate is 34%. The cost of capital from this bond debt is ____%

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