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ABC Hope Clinic has an outstanding bond that sells in the market for $1112. The bonds mature in 8 years, pay interest semiannually, and carry

ABC Hope Clinic has an outstanding bond that sells in the market for $1112. The bonds mature in 8 years, pay interest semiannually, and carry a 9% coupon rate on $1,000 par value. What is ABC Hopes cost of debt?

Group of answer choices

14.23%

3.48%

3.57%

7.14%

7.12%

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