Question: The Almost-There Corp. sold a $1,000 par value, noncallable bond several years ago that now has 10 years to maturity and a 7.00% annual coupon

The Almost-There Corp. sold a $1,000 par value, noncallable bond several years ago that now has 10 years to maturity and a 7.00% annual coupon that is paid semiannually. The bond currently sells for $925. What is the before-tax cost of debt?

Group of answer choices

3.87%

4.05%

5.93%

6.15%

8.11%

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