What is the Cost of Debt for the LMN corporation (do not round until the final answer)?

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on estion The LMN Corporation has three bond issuances outstanding. Bond 1 is an annual bond with a $1,000 par value, $70 coupon payments, maturing in 8 years, and trades today at $1.030 44 with 90,000 bonds outstanding. Bond 2 is a semi-annual bond with a $10,000 par value, $300 00 coupon payments, maturing in 8 years, and trades today at $9,395.29 with 20,000 bonds outstanding Bond 3 is a quarterly bond with a $1,000 par value, $17.75 coupon payments, maturing in 8 years and trades at $1,082.74 with 70,000 bonds outstanding. L.MN has 1 800,000 shares of preferred stock outstanding paying a dividend of $6.70 with a share price of $51.50. LMN has 71 million shares of common stock outstanding with a reported beta of 1.10 that is trading at $19.40 and pays a dividend of $2.20 annually and expected sustained dividend growth of 3.10% for the foreseeable future. The expected return on the market is 9.10% and the risk-free rate is 3.10%. When measuring the expected return on equity, you decide to weight the return generated by CAPM at 80% and the Continuous Dividend Growth (Gordon Growth) model at 20% The LMN Corporation is taxed at the 21% level What is the Cost of Debt for the LMN corporation (do not round until the final answer)? red Select one: a. Less than 4.5% tion b. Between 4.5% and 5.5% c. Between 5.5% and 6.5% d. Between 6.5% and 7.5% e. Greater than 7.5%