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Juno has 8 percent bonds outstanding that mature in 19 years. The bonds pay interest semiannually and have a face value of $1,000. Currently, the

Juno has 8 percent bonds outstanding that mature in 19 years. The bonds pay interest semiannually and have a face value of $1,000. Currently, the bonds are selling for $989 each. What is Juno's pre-tax cost of debt?

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