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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
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 11.6% with semiannual payments, and will use an investment bank that charges $30 per bond for its services. What is the cost of debt for Kenny Enterprises at the following market prices? (ROUND TO TWO DECIMAL PLACES.)
a. $954.14 = ____%?
b. $1,017.02 = ____%?
c. 1,057.63 = ____%?
d. $1,136.54 = ____%?
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