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Jiminys Cricket Farm issued a 30-year, 8 percent annual coupon bond. The bond currently sells for 93 percent of its face value. What is the

Jiminys Cricket Farm issued a 30-year, 8 percent annual coupon bond. The bond currently sells for 93 percent of its face value. What is the cost of debt?

7.55%

10.44%

9.06%

8.66%

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