Multiple Choice
Spartans has 6.5 percent bonds outstanding that mature in 18 years.The bonds pay interest semiannually and have a face value of $1,000.Currently, the bonds are selling for $985 each.What is the firm's pretax cost of debt?
A) 6.77 percent
B) 6.64 percent
C) 6.94 percent
D) 7.11 percent
E) 6.20 percent
Correct Answer:
Verified
Correct Answer:
Verified
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