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Wegmans would like to raise debt to fund its expansions to North Carolina. The CFO finds that in the current bond market, the best price

Wegmans would like to raise debt to fund its expansions to North Carolina. The CFO finds that in the current bond market, the best price for their bond with a face value of $1000 is $876. This is a semi-annual bond with annual coupon rate of 6% maturing in 10 years. What is Wegmans cost of debt?

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