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The Pet Market has $1,000 face value bonds outstanding with 21 years to maturity, a coupon rate of 6.4 percent, annual interest payments, and a

The Pet Market has $1,000 face value bonds outstanding with 21 years to maturity, a coupon rate of 6.4 percent, annual interest payments, and a current price of $880. What is the aftertax cost of debt if the combined tax rate is 24 percent?

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