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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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