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Marvin's Interiors issued 8-year bonds 2 years ago. The bonds have a face value of $1,800, a 7.0 percent, semiannual coupon, and a current market price of $1,389. What is the pre-tax cost of debt?

12.53 percent

14.23 percent

13.79 percent

13.28 percent

Basic Finance, Finance

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