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Himiny's Cricket Farm Issued a 25-year, 16 percent semiannual bond 3 years ago. The bond currently sells for 89 percent of its face value. The

Himiny's Cricket Farm Issued a 25-year, 16 percent semiannual bond 3 years ago. The bond currently sells for 89 percent of its face value. The company's tax rate is 33 percent. What is the pretax cost of debt?

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