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A firm sold a 10-year bond issue 3 years ago. The bond has a 6.45% annual coupon and a $1,000 face value. The coupons are

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A firm sold a 10-year bond issue 3 years ago. The bond has a 6.45% annual coupon and a $1,000 face value. The coupons are paid annually. If the current market price of the bond is $951.64 and the tax rate is 35%, what is the after-tax cost of debt? (round to the nearest hundredth percent) a. 4.64% b. 4.7896 O c. 7.1496

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