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

Please answer correctly. 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 795 percent. What would be Oberon's before-tax component cost of debt? (Round your answer to 2 decimal places.)

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