Question: A bond that has a $1,000 par value (face value) and a contract or coupon interest rate of 11.8%. Interest payments are $59.00 and are

A bond that has a $1,000 par value (face value) and a contract or coupon interest rate of 11.8%. Interest payments are $59.00 and are paid semiannually. The bonds have a current market value of $1,126 and will mature in 10 years. The firm's marginal tax rate is 34%. The after-tax cost of debt is % ?

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