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Butler, Inc., has a target debt to equity ratio of 1.50. Its WACC is 8 percent, and the tax rate is 23 percent. If the

Butler, Inc., has a target debt to equity ratio of 1.50. Its WACC is 8 percent, and the tax rate is 23 percent. If the company's cost of equity is 11.9 percent, what is the pretax cost of debt?

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