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Calculate the cost of debt for a firm that has $10 million in bonds outstanding that mature in 15 years and have 5% coupon rates.

Calculate the cost of debt for a firm that has $10 million in bonds outstanding that mature in 15 years and have 5% coupon rates. Coupons are paid semiannually. The face value of the bonds is $1000 and the price per bond is $900.

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