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A firm has outstanding debt with a coupon rate of 9%, nine years maturity, and a price of $1000 per $1000 face value. What is

A firm has outstanding debt with a coupon rate of 9%, nine years maturity, and a price of $1000 per $1000 face value. What is the after-tax cost of debt if the marginal tax rate of the firm is 30%? I came up with 6.3% is this correct

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