: Final Examination

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$12$

$6$

Normandy Corporation has issued $$20$ million face value bonds that mature in $15$ years and have a $5\%$ coupon rate that is paid semi$-$annually. If the bonds are: selling at $97,$ determine the cost of debt.

points

$00$:$36$:$18$

Multiple Choice

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$3\mathrm{.}70\%$

$2\mathrm{.}86\%$

$1\mathrm{.}42\%$

$4\mathrm{.}54\%$

$5\mathrm{.}29$