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In order to finance a new project, a company borrowed $3,200,000 at 10% per year with the stipulation that the company would repay the loan

In order to finance a new project, a company borrowed $3,200,000 at 10% per year with the stipulation that the company would repay the loan plus all interest at the end of 1 year. Assume the companys effective tax rate is 33%.

What was the company's cost of debt capital before-taxes?

The company's cost of debt capital before-taxes is _____%.

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