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Too Young, Incorporated, has a bond outstanding with a coupon rate of 7.1 percent and semiannual payments. The bond currently sells for $945.50 and matures

Too Young, Incorporated, has a bond outstanding with a coupon rate of 7.1 percent and semiannual payments. The bond currently sells for $945.50 and matures in 17 years. The par value is $1,000. What is the company's pretax cost of debt?

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