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Advance, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 17 years to maturity that is quoted

Advance, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 17 years to maturity that is quoted at 95 percent of face value. The issue makes semiannual payments and has a coupon rate of 8 percent annually.

WHATS ADVANCE'S PRETAX COST OF DEBT?

IF THE TAX RATE IS 35% WHAT IS THE AFTER TAX COST OF DEBT?

*please add calculator steps

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