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Mojo Mining has a bond outstanding that sells for $2,156 and matures in 16 years. The bond pays semiannual coupons and has a coupon rate

Mojo Mining has a bond outstanding that sells for $2,156 and matures in 16 years. The bond pays semiannual coupons and has a coupon rate of 6.98 percent. The par value is $2,000. If the company's tax rate is 21 percent, what is the aftertax cost of debt?

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