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Cost of Debt A corporation has 10,000 bonds outstanding with a 6% annual coupon rate, 8 years to maturity, a $1,000 face value, and a

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Cost of Debt A corporation has 10,000 bonds outstanding with a 6% annual coupon rate, 8 years to maturity, a $1,000 face value, and a $1,100 market price. What is the cost of debt? %. Enter your answer as percent. Keep two decimal places.

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