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Fly Corporation issued a $ 5.000.000.8%. 6 years convertible bonds on 1/1/2020. The bonds were issued at 96. and pay interest semiannually, on July 1,

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Fly Corporation issued a $ 5.000.000.8%. 6 years convertible bonds on 1/1/2020. The bonds were issued at 96. and pay interest semiannually, on July 1, and January 1 of every year. Required: Calculate the total financing (borrowing) cost for the company (Note: write your answer as a number only. With No dollar signs or commas)

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