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A company currently has a bond outstanding that pays a 6% coupon rate (coupons paid semiannually), a $1,000 par value and matures in 30 years.

image text in transcribed A company currently has a bond outstanding that pays a 6% coupon rate (coupons paid semiannually), a $1,000 par value and matures in 30 years. The bond is currently trading at $515.16. The company's tax rate is 25%. What is the firm's after-tax component cost of debt for purposes of calculating the weighted average cost of capital ("WACC")

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