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LL Incorporateds currently outstanding 7 percent coupon bonds have a yield to maturity of 8 percent. LL believes it could sell new bonds that would

LL Incorporateds currently outstanding 7 percent coupon bonds have a yield to maturity of 8 percent. LL believes it could sell new bonds that would provide a similar yield to maturity. If its marginal tax rate is 32 percent, what is LLs after-tax cost of debt? Express your answer in percentage (without the % sign) and round it to two decimal places.

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