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Jiminy's Cricket Farm just issued a 20-year, 7 percent, semiannual bond. The bond currently sells for 108 percent of its face value. What is the

Jiminy's Cricket Farm just issued a 20-year, 7 percent, semiannual bond. The bond currently sells for 108 percent of its face value. What is the companys pretax cost of debt? What is the companys aftertax cost of debt if the tax rate is 23 percent?

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