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Gekko Industries plans to issue a $1,000 par, semi-annual pay bond with 20 years to maturity and a coupon rate of 7. The company expects the bonds to...

Gekko Industries plans to issue a $1,000 par, semi-annual pay bond with 20 years to maturity and a coupon rate of 7.00%. The company expects the bonds to sell for $820.00. MC Inc's cost of debt is estimated to be _______%.


please use the finance calculator to solve with steps

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