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The Marks Corporation has bonds in the market with the below characteristics. If the company has a marginal tax rate of 35% what is its

The Marks Corporation has bonds in the market with the below characteristics. If the company has a marginal tax rate of 35% what is its cost of debt?
Bond Characteristics:
Face Value: $1,000
Coupon Rate: 8%
Frequency of payments: Semi-annual
Years to maturity: 12
Current price of bonds: $925

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