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Calculate the after-tax cost of debt using following bond information. A five year bond has a 7 percent coupon rate and a $1000 face value.

Calculate the after-tax cost of debt using following bond information. A five year bond has a 7 percent coupon rate and a $1000 face value. If the market value of the bond is $788, assuming that the bond makes annual coupon payments and the tax rate is 35%.

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