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What is true regarding ajax cost of debt capital

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Question - Five years ago, Cowbella Corporation issued 100,000 units of $1,000 face value 20-year bonds with 4% coupon rate paid semi-annually. The bonds were issued to fund business expansion and were well received by investors and sold at 103.5% of their face value. The bonds are currently trading at 98.0% of face value. What is true regarding Ajax's cost of debt capital now compared to when the bond was issued?

Reference no: EM133169389

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