Jiminy’s Cricket Farm issued a 30-year, 11 percent semiannual bond 8 years ago. The bond currently sells for 110 percent of its face value. The company’s tax rate is 35 percent. (Do not include the percent signs (%). Round your answers to 2 decimal places. (e.g., 32.16)), ,Required:,(a) The pretax cost of debt is_____percent.,,(b) The aftertax cost debt is_____ percent
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