Question: A bond with a $1,000 par value bond has 14 years to maturity and a 4.50% annual coupon that is paid semiannually. The bond

A bond with a $1,000 par value bond has 14 years to maturity and a 4.50% annual coupon that is paid semiannually. The bond currently sells for $888 and the company's tax rate is 25%. What is the after-tax cost of debt?

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