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Company xyz is considering the issuance of a 2 0 year bond ( par value = $ 1 , 0 0 0 ) with a

Company xyz is considering the issuance of a 20 year bond (par value = $1,000) with a 11% coupon rate and issuance costs of $25 for each bond. Based on this information, the cost of debt before taxes of this bond is equal to:

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