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Kenny Enterprises has just issued a bond with a par value of $ 1 0 0 0 , a maturity of twenty - five years,

Kenny Enterprises has just issued a bond with a par value of
$1000, a maturity of twenty- five years, and a coupon rate of
10.3% with semiannual payments. What is the cost of debt for
Kenny Enterprises if the bond sells at$941.55?

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