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Without the use of excel and all work shown, answer the following. Company BW has issued 2,000 corporate bonds with a maturity value of $1,000

Without the use of excel and all work shown, answer the following.

Company BW has issued 2,000 corporate bonds with a maturity value of $1,000 and a coupon rate of 6%. Coupon payments are made every 6 months and those bonds will mature in 6 months from today. Current market price of those bonds is $978.56.

Marginal corporate income tax rate is %34. Find the annual after-tax cost of debt for these bonds.

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