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Dunder - Mifflin, Inc. hires an investment banker for the sale of the 6 0 0 , 0 0 0 bonds from Problem 4 .

Dunder-Mifflin, Inc. hires an investment banker for the sale of the 600,000 bonds from Problem 4. The investment banker charges a 2% fee on each bond sold. What is the cost of debt to DMI if the following are the proceeds before the banker's fees are deducted? (Use information from the previous problem)
$45,000,000?
16.38%
16.86%
15.06%
17.17%
14.12%
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