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Book The Holmes Company's currently outstanding bonds have a coupon and an 11% yield to maturity. Holmes believes it could Issue new bonds at par

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Book The Holmes Company's currently outstanding bonds have a coupon and an 11% yield to maturity. Holmes believes it could Issue new bonds at par that would provide a similar yield to maturity. Irits marginal tax rate is 25 what is Holmes after tax cost of debt? Round your answer to two decimal places

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