Murphy Manufacturing Company has $$10$ million in outstanding debt $(10,000$ bonds with a face value of $$1,000)$ with a current market value of $$1050,11$ years until maturity, and a coupon rate of $4\mathrm{.}5$ percent $($annual payments$).$ What is the cost of debt for Murphy Manufacturing Company $($ignoring taxes$)?$

Group of answer choices

$2\mathrm{.}93$ percent

$3\mathrm{.}43$ percent

$3\mathrm{.}93$ percent

$4\mathrm{.}42$ percent

$4\mathrm{.}50$ percent