A firm is planning to issue new $10-$year bonds with a face value of $$1,000.$ The coupon rate is $8\%$ paid semiannually. The expected price of the bond is $$1,020.$ In order to issue new bonds, the firm has to pay $6\%$ of the issuing price of the bonds. If the tax rate is $34\%,$ what is the before$-$tax cost of capital?

$4\mathrm{.}53\%$

$8\mathrm{.}62\%$

$6\mathrm{.}86\%$

$7\mathrm{.}71\%$

$5\mathrm{.}69\%$