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Normandy Corporation has issued $20 million face value bonds that mature in 15 years and have a 5% coupon rate that is paid semi-annually if

Normandy Corporation has issued $20 million face value bonds that mature in 15 years and have a 5% coupon rate that is paid semi-annually if the bonds are selling at 97 , determine the cost of debt. Multiple Choice 370x 2.868 5.29x 1.42x 4.54%

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