Young, Incorporated, has a bond outstanding with a coupon rate of $6\mathrm{.}5$ percent and semiannual payments. The bond currently sells for $$946$ and res in $22$ years. The par value is $$1,000.$ What is the company's pretax cost of debt?

Multiple Choice

$7\mathrm{.}54\%$

$7\mathrm{.}30\%$

$7\mathrm{.}10\%$

$3\mathrm{.}45\%$

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