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.JR Oil Rigs' currently outstanding 13% coupon bonds have a yield to maturity of 9.5%JR believes it could issue at par new bonds that would

.JR Oil Rigs' currently outstanding 13% coupon bonds have a yield to maturity of 9.5%JR believes it could issue at par new bonds that would provide a similar yield to maturity. If its marginal tax rate is 30%, what is JR's after-tax cost of debt?

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