Q: A company has issued ₹ 20 million worth of non-convertible debentures, each at a face value of ₹ 100 at the rate of 12 %. Each debenture is redeemable at a premium of 5 %, after 10 years. If the net amount realized is ₹ 95 and tax rate is 40 %, the cost per debenture will be