8, Happy Tree Company just issued $100,000,000 of 10-year bonds with a coupon rate of 3%. The bonds were purchased at face value (par value). The Company paid 2.5% floatation costs. The marginal tax rate for Happy Tree Company is 32%. What is the after-tax cost of the debt to the Company? b. c. d. 2.04% 2.09% 3%