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Before and after-tax cost of debt For the following $1,000-par-value bond paying semi-annual interest payments, calculate the before- and after-tax cost of debt. Use the

Before and after-tax cost of debt For the following $1,000-par-value bond paying semi-annual interest payments, calculate the before- and after-tax cost of debt. Use the 21% corporate tax rate.

Issuer Name-General Motors Co. Coupon Rate- 2.80% Years to Maturity-14 Price- $1,004.32

Q)The before-tax cost of debt for General Motors Co. is enter your response in %. (Round to two decimal places.)

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