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Franklin Mining Co. has 12-year, 8% annual coupon bonds outstanding. The bonds have a current market

Franklin Mining Co. has 12-year, 8% annual coupon bonds outstanding. The bonds have a current market price of $885.54 and a face value (FV) of $1,000. If Franklin's marginal tax rate is 40%, what is its relevant after-tax component cost of debt, r d?

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