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Kenny Enterprises has just issued a bond with a par value of ​$1,000​, a maturity of...

Kenny Enterprises has just issued a bond with a par value of ​$1,000​, a maturity of twenty​ years, and a coupon rate of 7.3​% with semiannual payments. What is the cost of debt for Kenny Enterprises if the bond sells at the following​ prices? What do you notice about the price and the cost of​ debt?
a.  ​$946.88
b.  ​$1,000.00
c.  ​$1,073.64
d.  ​$1, 239.11

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