Beckham Corporation has semiannual bonds outstanding with nine years to maturity that are currently priced at $894.08. If the bonds have a coupon rate of 6 percent, then what is the after-tax cost of debt for Beckham if its marginal tax rate is 35 percent? Complete the calculation using the effective annual yield (EAY) for the bond. 7.8% 4.97% 5.07% 7.65% none of these