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Beckham Corporation has semiannual bonds outstanding with nine years to maturity that are currently priced at $754.08. If the bonds have a coupon rate of

Beckham Corporation has semiannual bonds outstanding with nine years to maturity that are currently priced at $754.08. If the bonds have a coupon rate of 7.25 percent, then what is the after-tax cost of debt for Beckham if its marginal tax rate is 30 percent? Complete the calculation as is done on Wall Street.

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