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Benson Industries Inc. has $275 million, face value, of long-term bonds with a yield to maturity of 5.73%. The market value of the debt

Benson Industries Inc. has $275 million, face value, of long-term bonds with a yield to maturity of 5.73%. " The market value of the debt is 101.2 percent of its face value. The firm's marginal corporate tax rate is 29.18 percent. What is the after-tax cost of debt?

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