Question: Please answer correctly. 8.38 was wrong. will rate. Oberon, Inc. has a $15 million (face value) 8 -year bond issue selling for 95 percent of

Please answer correctly. 8.38 was wrong. will rate.

Oberon, Inc. has a $15 million (face value) 8 -year bond issue selling for 95 percent of par that pays an annual coupon of 7.95 percent. What would be Oberon's before-tax component cost of debt? (Round your answer to 2 decimal places.) Answer is complete but not entirely correct

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