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LL Inc.s currently outstanding 15% coupon bonds have a yield to maturity of 8.6%. LL believes it could issue new bonds at par that would

  1. LL Inc.s currently outstanding 15% coupon bonds have a yield to maturity of 8.6%. LL believes it could issue new bonds at par that would provide a similar yield to maturity. If its marginal tax rate is 30%, what is LLs after tax cost of debt?

Please - no rounding

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