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1. A company has $17.00 million face value of bonds outstanding that pay a coupon of 10.00% annually and have 9 years to maturity. The

1. A company has $17.00 million face value of bonds outstanding that pay a coupon of 10.00% annually and have 9 years to maturity. The bonds have a 5.60% yield to maturity. What value (in million) should be used for debt in the company's WACC calculation?

a. $22.18

b. $17.00

c. $9.95

d. $12.69

e. $16.29

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