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Ty industries wants to issue a 20-year bond with a $1,000 face value and an 8 annual coupon. The bond can be sold to investors

Ty industries wants to issue a 20-year bond with a $1,000 face value and an 8 annual coupon. The bond can be sold to investors for $915 per bond but will incur transaction costs of 6.68 per bond Ty industries tax rate is 21%, what is the after-tax cost of debt financing to the firm

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