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The debt matures in 10 years currently priced at 95 of its

John Buscetti's has a $20 million debt outstanding, with a 6% coupon rate. The debt has semi-annual coupons with the next being in 6 months. The debt matures in 10 years. Currently priced at 95% of it's $1000 fv. What is the cost of Buscetti's debt (%)?

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Finance Basics: The debt matures in 10 years currently priced at 95 of its

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