Calculate the cost of capital for a bond that has a $$1,000$ par value and a contract or coupon interest rate of $11\%.$ Interest payments are $$55$ and paid semi$-$annually. The bond has a current market value of $$1,000$ and will mature in $20$ years. The firm's marginal tax rate is $30\%$

a$.11\%$

b$.10\mathrm{.}7\%$

c$.7\mathrm{.}7\%$

d$.30\%$