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The approximate before-tax cost of debt for a 10-year, 8 percent, $1,000 par value bond selling at $1,150 is ________. A) 5.97 percent B) 8.33

The approximate before-tax cost of debt for a 10-year, 8 percent, $1,000 par value bond selling at $1,150 is ________.

A) 5.97 percent

B) 8.33 percent

C) 8.82 percent

D) 9 percent

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