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National Bank just issued a new 40year, non-callable bond at par (the current price of the bond is $1,000 ). This bond requires a coupon

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National Bank just issued a new 40year, non-callable bond at par (the current price of the bond is $1,000 ). This bond requires a coupon rate of 17% with semiannual payments and has a par value of $1,000. The tax rate is 35%. What is the after-tax cost of debt? 17% 10.75% 9.57% 11.05%

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