Collins Corporation is planning to sell a new $1,000 face value, 9% coupon, 15-year bond issue to investors who require a 9% rate of return.  There would be no flotation cost, and Collins pays income taxes at a 21% rate.  What is the cost of the new issue?   a. 9.00%   b. 21.00%   c. 1.89%   d. 7.11%

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