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Jiminys Cricket Farm issued a bond with 30 years to maturity and a semiannual coupon rate of 6 percent 3 years ago. The bond currently
| Jiminys Cricket Farm issued a bond with 30 years to maturity and a semiannual coupon rate of 6 percent 3 years ago. The bond currently sells for 92 percent of its face value. The companys tax rate is 35 percent. |
| a. | What is the pretax cost of debt?
|
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