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(Cost of debe) Templo-Midland, Inc is isscuing a $1,000 par value bond that pays 8.1 percent arnual interest and matures in 15 years. Investors are

(Cost of debe) Templo-Midland, Inc is isscuing a $1,000 par value bond that pays 8.1 percent arnual interest and matures in 15 years. Investors are willing io pay 5955 for the bond The after tax cost of debt is * (Round to two decinal placess)

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