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A company is trying to estimate the cost of debt for a new project. The company has been in business for 25 years and currently

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A company is trying to estimate the cost of debt for a new project. The company has been in business for 25 years and currently has four bond issues outstanding. The market values and current yield to maturities on these issues is shown below: BOND ISSUE MARKET VALUE (in millions) Yield to Maturity (%) $81.00 6.41% $127.00 7.21% $55.00 5.69% $120.00 5.26% What is the overall cost of debt for the company

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