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J&R Renovation Inc is trying to determine its cost of debt. The firm has a debt issue outstanding with 14 years to maturity that is

J&R Renovation Inc is trying to determine its cost of debt. The firm has a debt issue outstanding with 14 years to maturity that is quoted at 95% of the face value.The issue makes semi annual payments and has a coupon rate of 6.4% annually.

what is the company'spretax cost of debt?

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