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A firm issues a 20-year semi-annual payment bond, which is priced at $1213

Finance

A firm issues a 20-year semi-annual payment bond, which is priced at $1213.55. The coupon rate of the bond is 9.00%. The tax rate is 30 percent. What is the after-tax cost of debt? _______% 

6.8%

5.2%

4.9%

7%

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