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NEDBANK has in issue a bond currently selling at 95 percent of its R1000 par value. The bank has 10000 11% coupon bond in issue

NEDBANK has in issue a bond currently selling at 95 percent of its R1000 par value. The bank has 10000 11% coupon bond in issue with 15 years to maturity. In addition, NED bank pays 30 percent corporate tax rate and makes interest payment on quarterly basis. What is the bank's cost of the bond

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