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Dice Casino sold a 15-year bond last week for $955. after issuance cost, C Casino received $948. the face value of bond is $1000 and

Dice Casino sold a 15-year bond last week for $955. after issuance cost, C Casino received $948. the face value of bond is $1000 and 7 percent coupon rate, paid annually. What is the after tax cost of debt for the bond, given 40% tax rate?

Group of answer choices

3.55%

4.55%

5.55%

6.55%

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