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Question: Cost of debt with fees. Kenny Enterprises will issue a bond with a par value of $11,000, a maturity of twenty years, and a coupon rate of 10.6% with semiannual payments, and will use an investment bank that charges $25 per bond for its services. What is the cost of debt for Kenny Enterprises at the following market prices?
a. $925.89
b. $1,003.95
c. $1,112.25
d. $1183.58
a. What is the cost of debt for Kenny Enterprises at a market price of $925.89?
b. What is the cost of debt for Kenny Enterprises at a market price of $1,003.95?
c. What is the cost of debt for Kenny Enterprises at a market price of $1,112.25?
d. What is the cost of debt for Kenny Enterprises at a market price of $1,183.58?
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