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Kenny Electric Company's noncallable bonds were issued several years ago and now have 20 years...

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Accounting

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Kenny Electric Company's noncallable bonds were issued several years ago and now have 20 years to maturity. These bonds have a 9.25% annual coupon, paid semiannually, sells at a price of $1,075, and has a par value of $1,000. If the firm's tax rate is 30%, what is the component cost of debt for use in the WACC calculation

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