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Too Young, Inc., has a bond outstanding with a coupon rate of 7.1 percent and semiannual...

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Finance

Too Young, Inc., has a bond outstanding with a coupon rate of7.1 percent and semiannual payments. The bond currently sells for$1,891 and matures in 17 years. The par value is $2,000. What isthe company's pretax cost of debt?

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Transcribed Image Text

Too Young, Inc., has a bond outstanding with a coupon rate of7.1 percent and semiannual payments. The bond currently sells for$1,891 and matures in 17 years. The par value is $2,000. What isthe company's pretax cost of debt?

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