Cost of debt with fees kenny enterprises will issue a bond, Finance Basics

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Cost of debt with fees kenny enterprises will issue a bond

Qusetion: Cost of debt with fees. Kenny Enterprises will issue a bond with a par value of $1,000, a maturity of twenty years, and a coupon rate of 9.5% 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. $973.06

b. $1,006.62

c. $1,047.60

d. $1136.95

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Finance Basics: Cost of debt with fees kenny enterprises will issue a bond

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