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To help finance a major expansion, Delano Development Company sold a noncallable bond several years ...

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To help finance a major expansion, Delano Development Company sold a noncallable bond several years ...

To help finance a major expansion, Delano Development Company sold a noncallable bond several years ago that now has 16 years to maturity. This bond has an 11% annual coupon, paid semiannually, it sells at a price of $1,080, and it has a par value of $1,000. If Delano’s tax rate is 35%, what component cost of debt should be used in the WACC calculation?

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6.49%

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6.87%

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7.16%

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7.50%

Textbook

Financial Management: Theory and Practice

Edition: 4^th

Authors: Brigham, Ehrhardt, Gessaroli, Nason

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