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Skean Corporation has a bond issue that has a before tax cost of debt of 9.65%. Its tax rate is 40%. The after tax cost

Skean Corporation has a bond issue that has a before tax cost of debt of 9.65%. Its tax rate is 40%. The after tax cost of debt equals the before tax cost of debt times one minus the tax rate. What is the after tax cost of debt? Answer using the format: 8.12%

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