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A firm issues a 20-year annual payment bond, which is priced at $1216. The coupon rate of the bond is 9.00%. The tax rate is

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A firm issues a 20-year annual payment bond, which is priced at $1216. The coupon rate of the bond is 9.00%. The tax rate is 30 percent. What is the effective cost of debt? 4.88% O 4.89% 06.97% 6.98%

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