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Before and after-tax cost of debt For the following $1,000-par-value bond paying semi-annual interest payments, calculate the before and after-tax cost of debt. Use the

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Before and after-tax cost of debt For the following $1,000-par-value bond paying semi-annual interest payments, calculate the before and after-tax cost of debt. Use the 21% corporate tax rate. Issuer Name General Motors Co. Coupon Rate 2.40% Years to Maturity 18 Price $1,005.78 The before-tax cost of debt for General Motors Co is %. (Round to two decimal places.)

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