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 Intercontinental Exchange Inc. Coupon Rate 6.40% Years to Maturity 17 Price $1,010.72 The before-tax cost of debt for General Motors Co. is 5.19 %. (Round to two decimal places.) The after-tax cost of debt for General Motors Co. is 4.10 %. (Round to two decimal places.)