Question: Save Answer 5 points A company issues a $1000 par value, 5% coupon, 4-year annual bonds that can be sold for $853 each. Flotation costs

Save Answer 5 points A company issues a $1000 par value, 5% coupon, 4-year annual bonds that can be sold for $853 each. Flotation costs would amount to $42 per bond, Tax rate is 40%. Calculate after tax cost of debt financing Round your answer to 4 decimal places

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