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3. An overview of a firm's cost of debt The is the interest rate that a firm pays on any new debt financing. Andalusian Limited (AL) can borrow funds at an interest rate of 11.10% for a period of slx years. Its marginal federai.pius-state tax rate is 45%. AL's after-tax cost of debt is: (rounded to two decimal places). At the present time, Andalusian Limited (AL) has 15 -year noncaliable bowas with a face value of $1,000 that are outstanding. These bends have a current market price of 51,555,38 per bond, carry a coupon rate of 11%, and distribute annual coupon payments. The company incurs a federaf-plus. state tax rate of 45%. If AL wants to issue new debt, what would be a reasonable estimote for its after-tox cost of debt (rounded to two decimal places)? 3.0156 2.4196 3.6196 2.71%