The before-tax cost of debt for a 10-year,8 percent,$1,000 par value bond selling at $1,150 is ________.

Name: The before-tax cost of debt for a 10-year,8 percent,$1,000 par value bond selling at $1,150 is ________.
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The before-tax cost of debt is calculated using the yield to maturity (YTM) formula. Given the bond's coupon rate, par value, selling price, and maturity, the YTM is approximately 5.97 percent.

The Before-Tax Cost of Debt for a 10-Year,8 Percent,$1,000 Par