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Vineyard Wines issued 15-year bonds, 3 years ago. The bonds have a 6.75 percent coupon and pay interest semiannually. Currently, these bonds are selling at

Vineyard Wines issued 15-year bonds, 3 years ago. The bonds have a 6.75 percent coupon and pay interest semiannually. Currently, these bonds are selling at 97.8 percent of face value. What is the aftertax cost of debt if the tax rate is 34 percent?

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