Assume Jacky, Incorporated is not subject to the business interest limit and has a marginal tax rate of 21%. Which of the following statements is true? Jacky, Incorporated borrowed $500,000 and paid interest of $48,000; the after-tax cost of the interest was $10,080. Jacky, Incorporated issued 1,000 shares of 7%, $100 par preferred stock for $100,000. The after-tax cost of the $7,000 dividend paid was $1,470. Jacky, Incorporated borrowed $500,000 and paid interest of $48,000; the after-tax cost of the interest was $37,920. Jacky, Incorporated issued 1,000 shares of 7%, $100 par preferred stock for $100,000. The after-tax cost of the $7,000 dividend paid was $5,530.