Winter Wear, Inc. has 6 percent bonds outstanding that mature in 13 years. The bonds pay interest semiannually and have a face value of $1,000. Currently, the bonds are selling for $993 each. What is the firm's pre-tax cost of debt?
I tried doing these inputs on my calculator...
n=(2*14)=28
PV=993
PMT= ((1000*6%)/2)= 30
FV=1000