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Use the information below to determine before tax-costs of debt financing of bond S: Selling price: $1091 Number of years to maturity: 12 Annual Coupon

Use the information below to determine before tax-costs of debt financing of bond S:

Selling price: $1091

Number of years to maturity: 12

Annual Coupon Rate, paid annually: 9.23%

Par Value: 1000

Floatation Cost: $2.47

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