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Question 40 1 pts Kenny Enterprises will issue a bond with a par value of $1,000. a maturity of twenty years, and a coupon rate

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Question 40 1 pts Kenny Enterprises will issue a bond with a par value of $1,000. a maturity of twenty years, and a coupon rate of 8.7% with semiannual payments, and will use an investment bank that charges $25 per bond for its services. What is the cost of debt for Kenny Enterprises if the market price of the bond is $983.167 (Answer in percentage, round to two decimal places. For example, if answer is 10.23% then type 10.23)

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