16 - Advance ple is trying to determine its cost of debt. The firm has a debt issue outstanding with 7 years to maturity which is quoted at 920 percent of face value. The issue makes semiannual payments and has a coupon rate of 4 percent annually. Assume the face value of debt is 1000, if the tax rate is 24 percent, what is the after-tax cost of debt? a) b) 2.6996 4.0096 5.38% C) d) None Bo brak