Worth of debt with flotation costs equal

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Reference no: EM131878491

A firm raises capital by selling ?$35,000 worth of debt with flotation costs equal to 1?% of its par value. If the debt matures in 15 years and has an annual coupon interest rate of 8?%,what is the? bond's YTM?

Round answer to decimal points.

Reference no: EM131878491

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