The net proceeds proceeds after flotation costs are 981 for, Financial Management

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The net proceeds proceeds after flotation costs are 981 for

Black Hill Inc. sells $100 million worth of 20-year to maturity 13.12% annual coupon bonds. The net proceeds (proceeds after flotation costs) are $981 for each $1,000 bond. What is the before-tax cost of capital for this debt financing?

Round the answer to two decimal places in percentage form. (Write the percentage sign in the "units" box)

You should use Excel or financial calculator.

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Financial Management: The net proceeds proceeds after flotation costs are 981 for

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Financial Management: The net proceeds proceeds after flotation costs are 981 for

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