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GM currently has one debt issue that matures in 30 years, pays a semiannual coupon of 5%, costs $960, and has a $1000 par. Calculate

GM currently has one debt issue that matures in 30 years, pays a semiannual coupon of 5%, costs $960, and has a $1000 par. Calculate the pre-tax cost of debt assuming flotation costs of 2%. Please report your answer in percent terms rounded to two decimal places. Your Answer: Answer units

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