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Kenny Enterprises has just issued a bond with a par value of $1,000, a maturity of twenty years, and a coupon rate of 11.4% with
Kenny Enterprises has just issued a bond with a par value of $1,000, a maturity of twenty years, and a coupon rate of 11.4% with semiannual payments. What is the cost of debt for Kenny Enterprises if the bond sells at the following prices?
a) $928
b) $1,000
c) $1,060.72
d) $1,131.49
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