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A semiannual, 6 percent bond matures in 14 years and has a face value of $1,000. The market quote on this bond is 1,030. What

A semiannual, 6 percent bond matures in 14 years and has a face value of $1,000. The market quote on this bond is 1,030. What is the aftertax cost of debt if the tax rate is 34 percent?

6.14 percent

5.56 percent

3.53 percent

3.75 percent

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