Before-tax cost of debt and? after-tax cost of debt??David Abbot is buying a new? house, and he is taking out a 30?-year mortgage. David will borrow ?$196 comma 000 from a? bank, and to repay the loan he will make 360 monthly payments? (principal and? interest) of ?$1 comma 100.60 per month over the next 30 years. David can deduct interest payments on his mortgage from his taxable? income, and based on his? income, David is in the 30?% tax bracket. a. What is the? before-tax interest rate? (per year) on? David's loan? b. What is the? after-tax interest rate that David is? paying? a. The? before-tax interest rate? (per year) on? David's loan is nothing?%. ?(Round to one decimal? place.) b. The? after-tax interest rate that David is paying is nothing?%. ?(Round to two decimal? places.)