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Rockingham Motors issued a 20-year, 8 percent semiannual bond 3 years ago. The bond currently sells for 96.8 percent of its face value. The company's

Rockingham Motors issued a 20-year, 8 percent semiannual bond 3 years ago. The bond currently sells for 96.8 percent of its face value. The company's tax rate is 35 percent. What is the aftertax cost of debt?

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