Ernst's Electrical has a bond issue outstanding with ten years to maturity. These bonds have a $1,000 face value, a 5 percent coupon, and pay interest semiminusannually. The bonds are currently quoted at 96 percent of face value. What is Ernst's pretax cost of debt?
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Ernst's Electrical has a bond issue outstanding with ten years to maturity. These bonds have a $1,00...
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