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XYZ bonds sell for $900. They have a $1,000 par value, 8% coupon rate with semiannual coupons, and 21 years to maturity. What is the

XYZ bonds sell for $900. They have a $1,000 par value, 8% coupon rate with semiannual coupons, and 21 years to maturity. What is the pre-tax cost of debt? 9.07% 4.76% 6.78% 4.54%

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