Question: b One Step, Inc. is trying to determine its cost of debt. The firm has a debt issue outstanding with 17 years to maturity that

One Step, Inc. is trying to determine its cost of debt. The firm has a debt issue outstanding with 17 years to maturity that is quoted at 95 percent of face value. The issue makes sqmiannual payments and has a coupon rate of 6 percent. What is the company's pretax cost of debt? Round to the nearest XX.XX%

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