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DDDDDDDDDD (3 of 10) XYZ bonds have a 7% coupon rate paid quarterly. The par value is $1,000 and the bonds mature in 18 years.

DDDDDDDDDD (3 of 10) XYZ bonds have a 7% coupon rate paid quarterly. The par value is $1,000 and the bonds mature in 18 years. If the bonds currently sell for $874, what is the pre-tax cost of debt? 2.64% 8.36% 8.96% 2440

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