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Charlie Customs has a bond outstanding with a coupon rate of 6 percent and semiannual payments. The bond currently sells for $ 946 and matures

Charlie Customs has a bond outstanding with a coupon rate of 6 percent and semiannual payments. The bond currently sells for $ 946 and matures in 22 years. The par value is $ 1,000 and the company's tax rate is 25 percent. What is the company's after-tax cost of debt?

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