Cost of debt with fees.$$Kenny Enterprises will issue a bond with a par value of $$$$1000,$ a maturity of twenty$$ years, and a coupon rate of $7\mathrm{.}8\%$ with semiannual$$ payments, and will use an investment bank that charges $$$$20$ per bond for its services. What is the cost of debt for Kenny Enterprises at the following market$$ prices?

a$.$$$956\mathrm{.}86$

b$.$$$989\mathrm{.}57$

c$.$$$1081\mathrm{.}98$

d$.$$$1179\mathrm{.}19$

Question content area bottom

Part $1$

a$.$ What is the cost of debt for Kenny Enterprises at a market price of $$$$956\mathrm{.}86?$

$$b$.989\mathrm{.}57$

c$.1,081\mathrm{.}98$

d$.1,179\mathrm{.}19$

enter your response here$\%($Round to two decimal$$ places.$)$