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Rockingham Motors has a corporate bond outstanding that matures in 10 years. The annual coupon rate is 6%. The bond pays coupons annually and has

Rockingham Motors has a corporate bond outstanding that matures in 10 years. The annual coupon rate is 6%. The bond pays coupons annually and has a par value of $1,000. Currently, the bond is selling for $1,077. What is the company's pretax cost of debt

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