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Owl Corp's 15 year semi-annual bonds have 10 years left to maturity. They pay 6.5% coupon. These bonds are currently selling for $1070. What is

Owl Corp's 15 year semi-annual bonds have 10 years left to maturity. They pay 6.5% coupon. These bonds are currently selling for $1070. What is the company's annual pre-tax cost of debt?

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