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17: Cost of debt Six years ago, East Side Turners issued 15-year bonds that have a face value of $1,000 and pay interest semiannually. These

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17: Cost of debt Six years ago, East Side Turners issued 15-year bonds that have a face value of $1,000 and pay interest semiannually. These bonds currently sell for $974.50 and have a 7% coupon. What is the pre-tax cost of debt

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