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Teton Companys 8% coupon rate,quarterlypayment, $1,000 par value bond, which matures in 20 years, currently sells at a price of $686.86.The companys tax rate is

Teton Companys 8% coupon rate,quarterlypayment, $1,000 par value bond, which matures in 20 years, currently sells at a price of $686.86.The companys tax rate is 40 percent.What is the firmsafter-taxcost of debt for purposes of calculating the WACC?(hint: You will need to compute the APR quote with quarterly compounding)

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