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The Monroe Co. is going to issue a twenty-year 8% (annual) coupon bond making semi-annual coupon payments. The bond will be priced at $907.99 per

The Monroe Co. is going to issue a twenty-year 8% (annual) coupon bond making semi-annual coupon payments. The bond will be priced at $907.99 per If the firms tax rate is 36%, their after-tax cost of debt will be __ %?

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