Before-tax cost of debt Gronseth Drywall Systems, Inc., is in discussions with ths imvestment bankers regarding the issuance of new bonds. The invesingent usalikof Bas informed the firm that diferent maturities will carfy different coupon rates and sell at different prices. The firm must choose among several alfernatives. In each case, the bonds will have a $1,000 par value and fotation costs will be $30 per bond. Calculate the before-tax cost of financing with the following alternative (Click on the icon here [. in order to copy the rmitents of the data table below into a spreadshed.) The before-tax cost of debt is 3. (Round to two decimal places.)