a company's share price is $25 and it is expected to a pay a $0.65 divident/share next year. after that the firm's dividends are expected to grow at a rate of 4.3% per year. the company's existing debt from 3 years ago has a coupon rate of 6%. the firm just issued a new debt on par with a coupon rate of 6.1%. what is the pre-tax cost of debt as a percentage?