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Apple Computers has an outstanding 6.5%, 31-year bond that pays its coupons twice a year. This bond was issued 18 years ago. The bond currently

Apple Computers has an outstanding 6.5%, 31-year bond that pays its coupons twice a year. This bond was issued 18 years ago. The bond currently sells for 86% of its book value. What is the bond's after-tax yield if the tax rate is 22 percent?

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