A company issued a 30-year, 8% semiannual bond 8 years ago. The bond currently sells for 94% of its face value. The company's tax rate is 35%. 1 What is the pretax cost of debt? 2 What is the aftertax cost of debt? 3 Which is more relevant, the pretax or the aftertax cost of debt? Why? 4 For the firm, suppose the book value of the debt issue is $30 million. In addition, the company has a second debt issue, a zero coupon bond with 20 years left to maturity; the book value of this issue is $90 million, and it sells for 21.5% of par. What is the total book value of debt? The total market value? What is the aftertax cost of debt now?