in excel show me A $15-$year, $12\%$ semiannual

coupon bond sells for $$1,153\mathrm{.}72.$

What is the cost of debt $($rd$)?$

The bond pays a semiannual coupon, so

rd $=$

rd $=$

$()()()$

V INT

r

M

rB d

N

d

N

$=11$

$1$

$...+$ INT

$1+$ r d

$()()()$

$1153\mathrm{.}7260$

$1$

$1,000$

$113030$

$=$ r rd d

$+60$

$1+$ rd

$++++$

$++++$

$...$