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B&B of Texas reported three debt obligations: $2,000,000, 4.5% notes payable $1,900,000, 7% bonds issued at par $4,000,000, 8% mortgage notes If the market rate
- B&B of Texas reported three debt obligations:
- $2,000,000, 4.5% notes payable
- $1,900,000, 7% bonds issued at par
- $4,000,000, 8% mortgage notes
If the market rate of interest averaged 6% during the year, what is B&Bs weighted-average cost of debt?
- 8.67%
- 6.50%
- 7.00%
- 6.87%
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Auditing A Practical Approach
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton
3rd Edition
0730364577, 978-0730364573
