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Duke Company issues a $1,000 par value, noncallable bond that has 30 years to maturity and a 6.00% annual coupon that is paid semiannually. The

Duke Company issues a $1,000 par value, noncallable bond that has 30 years to maturity and a 6.00% annual coupon that is paid semiannually. The bond is selling for $925, and the companys tax rate is 35%. What is the component cost of debt for use in WACC calculation?

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