Avicorp has a $ 10.3 million debt issue outstanding, with a 6.1 % coupon rate. The debt has semi-annual coupons, the next coupon is due in six months, and the debt matures in five years. It is currently priced at 96 % of par value. a. What is Avicorp's pre-tax cost of debt? Note: Compute the effective annual return. a. Pre-tax cost of debt = _____ (Round to 4 decimal places) b. If Avicorp faces a 40 % tax rate, what is its after-tax cost of debt? Note: Assume that the firm will always be able to utilize its full interest tax shield. (ROUND TO 4 DECIMAL PLACES) b. After-tax cost of debt = ______