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Kenny Enterprises will issue a bond with a par value of $ 1 , 0 0 0 , a maturity of twenty years, and a

Kenny Enterprises will issue a bond with a par value of $1,000, a maturity of twenty years, and a coupon rate of 8.3% with semiannual payments, and will use an investment bank that charges $30 per bond for its services. What is the cost of debt for Kenny Enterprises at the following market prices?
a.$941.61
b.$996.98
c.$1,117.67
d.$1,207.35

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