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(Cost of debt) Temple-Midland, Inc is issuing a 51,000 par value bond that pays 79 percent annuat interest and matures in 15 yoaes. Imvesters are

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(Cost of debt) Temple-Midland, Inc is issuing a 51,000 par value bond that pays 79 percent annuat interest and matures in 15 yoaes. Imvesters are willing to pay $952 for the bond and Temple faces a tax rate of 32 percent. What is Templo's aftor tax cost of dobt on the bond? The attertax cost of debt 1 . 5. (Round to hes decimal places)

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