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MaxTax has bonds outstanding that mature in 11 years, pay interest annually, and have a coupon rate of 6.45 percent. These bonds have a face

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MaxTax has bonds outstanding that mature in 11 years, pay interest annually, and have a coupon rate of 6.45 percent. These bonds have a face value of $1,000 and a current market price of $975. What is the company's after-tax cost of debt if its tax rate is 21 percent? 4.86 percent 5.36 percent 5.16 percent 5.63 percent 4.53 percent

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