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Ranger, Inc., has a bond outstanding with a coupon rate of 5.25 percent and semiannual payments. The bond currently sells for $898.00 and matures in

Ranger, Inc., has a bond outstanding with a coupon rate of 5.25 percent and semiannual payments. The bond currently sells for $898.00 and matures in 8 years. The par value is $1,000. What is the company's pretax cost of debt

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