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MC Inc. plans to issue a $ 1 , 0 0 0 par value, semi - annual pay bond with 1 2 years to maturity

MC Inc. plans to issue a $1,000 par value, semi-annual pay bond with 12 years to maturity and a coupon rate
of 5.60%. The company expects the bonds to sell for $1110.00. MC Incs cost of debt is estimated to be
_______%.

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