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years ago, pal has 20 years to maturity and a 7.00% annual coupon that is paid semiannually. The bond currently sells for $925 and

years ago, pal has 20 years to maturity and a 7.00% annual coupon that is paid semiannually. The bond currently sells for $925 and the company's tax rate is 40%. What is the after-tax cost of debt?

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