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Several years ago a company sold a $1,000 par value, noncallable bond that now has 20 years to maturity and a 7.00% annual coupon. The

Several years ago a company sold a $1,000 par value, noncallable bond that now has 20 years to maturity and a 7.00% annual coupon. The bond currently sells for $875, and the companys tax rate is 40%. What is the component cost of debt for use in the WACC calculation? Do not round your intermediate calculations. Group of answer choices 4.58% 4.98% 8.30% 7.00% 4.92%

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