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Jiminy's cricket farm issued a 30 year, 6.3 percent semiannual bond 8 years ago. The bond currently sells for 110 percent of its face value.

Jiminy's cricket farm issued a 30 year, 6.3 percent semiannual bond 8 years ago. The bond currently sells for 110 percent of its face value. The company's tax rate is 22 percent. What is the after tax cost of debt?

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