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The Pet Market has $1,000 face value bonds outstanding with 18 years to maturity, a coupon rate of 9 percent, annual interest payments, and a

The Pet Market has $1,000 face value bonds outstanding with 18 years to maturity, a coupon rate of 9 percent, annual interest payments, and a current price of $835. What is the aftertax cost of debt if the tax rate is 34 percent?

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