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A company has 1 5 , 0 0 0 bonds outstanding with a face value of $ 1 , 0 0 0 per bond. The

A company has 15,000 bonds outstanding with a face value of $1,000 per bond. The bonds carry a 6% coupon, pay interest annually, and mat bonds are selling at 98% of par. The company's tax rate is 35%. What should be the company's after-tax cost of debt?
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