Cost of debt with fees. Kenny Enterprises will issue a bond with a par value of $1,000, a maturity of twenty years, and a coupon rate of 7.2% with semiannual payments, and will use an investment bank that charges $25 per bond for its services. What is the cost of debt for Kenny Enterprises at the following market price of $968.58 ? What is the cost of debt for Kenny Enterprises at a market price of $968.58 ? \% (Round to two decimal places.)