BP has a bond outstanding with 15 years to maturity, a $1,000 par value, a coupon rate of 6.5%, with coupons paid semiannually, and a price of 87.82 (percent of par)

What is the cost of debt?

Answer in 3+ decimals

Intro BP has a bond outstanding with 15 years to maturity, a $1,000 par value, a coupon rate of 6.5%, with coupons paid semiannually, and a price of 87.82 (percent of par). Part 1 Attempt 1/10 for 10 pts. What is the cost of debt? 3+ decimals Submit