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Jay Bakery has a bond issue outstanding interest of 8 year the bond pay interest semiannual. Currently the bonds are quoted at 9 7 .

Jay Bakery has a bond issue outstanding interest of 8 year the bond pay interest semiannual. Currently the bonds are quoted at 97.8% of the face value and carry a coupon of 5.7% what is the after-tax cost of debt, If the tax rate is 21%?(Please use a financial Claulator not excel)

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