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Taylor Swift Corp. issued a 30-year, 8 percent semiannual coupon bond 10 years ago. The bond currently sells for 100 percent of its face value.

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Taylor Swift Corp. issued a 30-year, 8 percent semiannual coupon bond 10 years ago. The bond currently sells for 100 percent of its face value. What is the aftertax cost of debt if the company's tax rate is 21 percent? 4.63 percent 4.75 percent 5.38 percent 6.32 percent None of the above

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