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National Bank just issued a new 35-year, non-callable bond at par. This bond requires a coupon rate of 13% with semiannual payments and has a

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National Bank just issued a new 35-year, non-callable bond at par. This bond requires a coupon rate of 13% with semiannual payments and has a par value of $1,000. The tax rate is 20%. What is the after-tax cost of debt? The after-tax cost of debt for National Bank is % (Round to two decimal places.) Enter your answer in the answer box

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