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DeeJayTee Corp issued junk bonds, which have 7 years left until maturity, pay a coupon of 16%, and currently trade for $1027. What is DeeJayTee's

DeeJayTee Corp issued junk bonds, which have 7 years left until maturity, pay a coupon of 16%, and currently trade for $1027. What is DeeJayTee's current cost of debt? 2.22% None of these @ 7.68% @ 15.34% @ 16.23%

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