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The coupon rate on a new 10-year bond is 12%. The bond has a par of $1,000 and its current price is $1010, what is

The coupon rate on a new 10-year bond is 12%. The bond has a par of $1,000 and its current price is $1010, what is the pre-tax cost if the flotation cost is 2% of the new price?

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