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Barkies Pharmaceutical Co. has an outstanding bond that sells in the market for $890. The bonds mature in 11 years, pay interest semiannually, and carry

Barkies Pharmaceutical Co. has an outstanding bond that sells in the market for $890. The bonds mature in 11 years, pay interest semiannually, and carry a 7% coupon rate on $1,000 par value. What is Barkies cost of debt?

21.02%
10.51%
10.43%
5.25%
5.22%

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