13.3 Current cost of a bond: You are analyzing the cost of debt for a firmYou t the firm's 14-year maturity, 8.5 percent coupon bonds are selling at a price of $823.48. The bonds pay interest semiannually. If these bonds are the only debt outstanding for the firm, what is the after-tax cost of debt for this firm if the firm is in the 30 percent marginal tax rate? xot f det for m Maturity (years) Coupon rate Bond price Coupon frequency (per year) Firm's tax rate 8.50% $823.48 4.00% Before-tax cost of debt (semi-annual)MM Before-tax cost of debt (annualized) After-tax cost of debt (annualized)