6. Times Corporation, whose tax rate is 40%, has two sources of funds: long-term debt with a market value
of $6,000,000 and an interest rate of 8%, and equity capital with a market value of $20,000,000 and a cost
of equity of 12%. Times Corporation's after-tax cost of debt is:
(A) 4.80%
(B) 8.00%
(C) 11.08%
(D)7.20%
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