Question: Save Answer A company issues a $1000 par value, 8% coupon, 5-year annual bonds that can be sold for $956 each. Flotation costs would amount

Save Answer A company issues a $1000 par value, 8% coupon,

Save Answer A company issues a $1000 par value, 8% coupon, 5-year annual bonds that can be sold for $956 each. Flotation costs would amount to $32 per bond. Tax rate is 40%. Calculate after tax cost of debt financing. Round your answer to 4 decimal places

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