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Too Young, Inc., has a bond outstanding with a coupon rate of 6.3 percent and semiannual payments. The bond currently sells for $944 and matures

Too Young, Inc., has a bond outstanding with a coupon rate of 6.3 percent and semiannual payments. The bond currently sells for $944 and matures in 20 years. The par value is $1,000. What is the company's pretax cost of debt?

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