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Jiminy's Cricket Farm issued six years ago a 3 0 - year $ 1 0 0 0 face value bond with an 8 percent annual

Jiminy's Cricket Farm issued six years ago a 30-year $1000 face value bond with an 8 percent annual coupon rate that has semiannual payments. The bond currently sells for $1,140. What is the after-tax cost of debt if the company's tax rate is 35 percent?
4.425%
4.145%
4.955%
5.065%
4.755%
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