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the maturity of a bond is 12 years, coupon rate is 10.5 % face value (par value) is R1000. the bond is priced to sell

the maturity of a bond is 12 years, coupon rate is 10.5 % face value (par value) is R1000. the bond is priced to sell at 88.14. The tax rate is 40%. compute the after-tax cost of debt. ignore flotation cost

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