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KatyDid Clothes has a $130 million (face value) 30-year bond issue selling for 106 percent of par that carries a coupon rate of 10 percent,

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KatyDid Clothes has a $130 million (face value) 30-year bond issue selling for 106 percent of par that carries a coupon rate of 10 percent, paid semiannually What would be KatyDid's before-tax component cost of debt? (Round your answer to 7 decimal places.) Cost of debt ___ %

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