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Black Hill Inc. sells $100 million worth of 28-year to maturity 12.46% annual coupon bonds. The net proceeds (proceeds after flotation costs) are $979 for

Black Hill Inc. sells $100 million worth of 28-year to maturity 12.46% annual coupon bonds. The net proceeds (proceeds after flotation costs) are $979 for each $1,000 bond. What is the before-tax cost...

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