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Grand Furniture has debentures in issue that mature in 13 years, have a 6 % coup...
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Grand Furniture has debentures in issue that mature in 13 years, have a 6 % coupon, and pay interest annually. These debentures have a face value of $1,000 and a current market price of $1,040. What is the company's after-tax cost of debt if its tax rate is 32 %?
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