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Merced Inc. issued twenty-year, 6 percent semiannual coupon bonds with par value of $1,000. The bond price is quoted at 103% of the par. What
Merced Inc. issued twenty-year, 6 percent semiannual coupon bonds with par value of $1,000. The bond price is quoted at 103% of the par. What is its pre-tax cost of debt? 6.79 percent 2.87 percent 3.46 percent 5.75 percent
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