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Cost of debt. Dunder - Mifflin, Inc. ( DMI ) is selling 6 0 0 , 0 0 0 bonds to raise money for the

Cost of debt. Dunder-Mifflin, Inc. (DMI) is selling 600,000 bonds to raise money for the publication of new magazines in the coming year. The bond will pay a coupon rate of 12.1% with
semiannual payments and will mature in 30 years. Its par value is $100. What is the cost of debt to DMI if the bonds raise the following amounts (ignoring issuing costs)?
a. $57,858,000
b. $56,928,000
c. $70,482,000
d. $76,212,000
%(Round to two decimal places.)
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