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Waller, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 20 years to maturity with a current

Waller, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 20 years to maturity with a current price of $854. The issue makes semiannual payments and has coupon rate of 5 percent. If the tax rate is 0.24, what is the after-tax cost of debt? Enter the answer with 4 decimals.

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