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Jiminys Cricket Farm issued a bond with 20 years to maturity and a semiannual coupon rate of 8 percent 3 years ago. The bond currently

Jiminys Cricket Farm issued a bond with 20 years to maturity and a semiannual coupon rate of 8 percent 3 years ago. The bond currently sells for 96 percent of its face value. The companys tax rate is 35 percent. What is the pretax cost of debt? After tax cost?

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