2 Sunrise, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 23 years to maturity that is quoted at 96 percent of face value. The issue makes semiannual payments and has an embedded cost of 5 percent annually. What is the company's pretax cost of debt? If the tax rate is 21 percent, what is the aftertax cost of debt? 34 4 Input Area: 5 6 Settlement 1/1/2020 7 Maturity 1/1/2043 8 Price (% of par) 96 9 Redemption (% of par) 100 10 Coupon rate 5% 11 Payments per year 2 21% 12 Tax rate 13 14 (Use cells A6 to B12 from the given information to complete this question. You must use the built-in Excel fu 15 answer this question. Leave the "Basis" input blank in the function.) 16 17 Output Area: 18 19 Pretax cost of debt 20 Aftertax cost of debt ==I Graded Worksheet