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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%

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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