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Oberon, Incorporated has a $ 2 5 million ( face value ) 8 - year bond issue selling for 9 4 percent of par that

Oberon, Incorporated has a $25 million (face value)8-year bond issue selling for 94 percent of par that pays an annual coupon of 8.25 percent.
What would be Oberons before-tax component cost of debt?

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