Question: Temple - Midland, Inc. is issuing a $ 1 , 0 0 0 par value bond that pays 8 . 2 % annual interest and

Temple-Midland, Inc. is issuing a $1,000 par value bond that pays 8.2% annual interest and matures in 15 years. Investors are willing to pay $954 for the bond and Temple faces a tax rate of 18%. What is Temple's after-tax cost of debt on the bond?
The after-tax cost of debt is ________%.(Round to two decimal places.)
 Temple-Midland, Inc. is issuing a $1,000 par value bond that pays

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