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Electronic Products has 51,000 bonds outstanding that are currently quoted at 103.9. The bonds mature in 8 years and carry a 7.5 percent annual coupon.

Electronic Products has 51,000 bonds outstanding that are currently quoted at 103.9. The bonds mature in 8 years and carry a 7.5 percent annual coupon. What is the firm's aftertax cost of debt if the applicable tax rate is 32 percent? \

Aftertax cost of debt = %

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