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The Zinn Company plans to issue $10,000,000 of 20 year bonds in June to help finance a new research and development laboratory. The bonds will

The Zinn Company plans to issue $10,000,000 of 20 year bonds in June to help finance a new research and development laboratory. The bonds will pay interest semiannually. It is now November, and the current cost of debt to the high risk biotech company is 11%. However, the firm

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