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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 selling600,000 bonds to raise money for the publication of new magazines in the coming year. The bond will pay a coupon rate of 15.3% 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.$58,416,000
b.$53,202,000
c.$62,124,000
d.$70,740,000

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