Avicorp has a 511.5malion debt issue outstanding; wh a 6.1% coupon rate. The debt has semt-annual coupons, the next ooupon is due in six monthe; and the dobt matures in five years. It is currenty priced at 95% of par value. a. What is Avicorp's pre-tax cost of debt? Noto: Compute the effective annual return. b. If Avicorp faces a 40% tax rate, what is its after-tax cost of debt? Note: Assume that that firm wil atways be able to utlize its full interest lax shield. a. The cost of debt is is per year. (Round to four decimal places.)