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solve this problem and show all formulas and calculations no financial calculator or excel allowed PackMan Corporation has semiannual bonds outstanding with nine years to

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PackMan Corporation has semiannual bonds outstanding with nine years to maturity and the bonds are currently priced at $754.08. If the bonds have a coupon rate of 7.25 percent, what is the after-tax cost of debt for PackMan if its marginal tax rate is 30 percent? (Round your Intermediate calculation to two decimal places.) 8.225% 7.050% 11.750% 12.095 %

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