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The Homes Company's currently outstanding bonds have a coupon and an 11% yield to maturity. Holmes believes it could new bonds at per that would

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The Homes Company's currently outstanding bonds have a coupon and an 11% yield to maturity. Holmes believes it could new bonds at per that would provide a smar vied to maturity. It is marginal tax rate 25, what is Holmes after tax cost of debt? Round your answer to two decimal places

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