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Jason Industries just issued a new 20-year, non-callable bond at par (bond sold for $1,000)....

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Finance

Jason Industries just issued a new 20-year, non-callable bond at par (bond sold for $1,000). This bond requires a 15% coupon rate with semiannual payments and has a par value of $1,000. The tax rate is 40%. What is the after-tax cost of debt?

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