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KatyDid Clothes has a $110 million (face value) 25 year bond issue selling for 102 percent of par that carries a coupon rate of 8

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KatyDid Clothes has a $110 million (face value) 25 year bond issue selling for 102 percent of par that carries a coupon rate of 8 percent. paid semiannually. What would be Katydid s before-tax component cost of debt? Note: Round your answer to 2 decimal places

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