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Company X has a $2,000 face value , 10% coupon bond that is being traded on the market. The bond matures in 10 years and

Company X has a $2,000 face value, 10% coupon bond that is being traded on the market. The bond matures in 10 years and its current price is $2,200.

What is the companys cost of debt?

Use the cost of debt formula.

Thank you!

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