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Ausel's Furniture Stores has bonds outstanding that mature in nine years, have a 7% coupon, and pay interest annually. These bonds have a face value

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Ausel's Furniture Stores has bonds outstanding that mature in nine years, have a 7% coupon, and pay interest annually. These bonds have a face value of $1,000 and a current market price of $1,022. What is the company's pre-tax cost of debt? Multiple Choice 6.76% 6.67% 6.97% 6.50% 6.34%

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