Question: Daylight Corp has 1 0 , 0 0 0 , $ 1 , 0 0 0 par value bonds outstanding with coupon of 1 0

Daylight Corp has 10,000, $1,000 par value bonds outstanding with coupon of 10% and 5 years to maturity. The bonds currently trade for $1,054 and pay interest semi-annually. What is the before tax cost of debt for Daylight Corp.?NOTE: Enter your answer as a percentage, do not use units, and use 3 decimal places. For example, if your answer is 0.012343, enter 1.234

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