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Duke Company issus a $ 1 , 0 0 0 par value, noncallable bond that has 3 0 years to maturity and a 6 .

Duke Company issus 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 company's tax rate is 21%. What is the affer-tax cost of debt for use in the WACC calculation?

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