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Company P has the following data at the end of the year on December 31, 2021: FEAT $75.6 million Beginning NFL $1,291 million Ending NFL

Company P has the following data at the end of the year on December 31, 2021: FEAT $75.6 million Beginning NFL $1,291 million Ending NFL $1,569 million Calculate Company P's cost of debt capital, rD, assuming the future tax rate is 21.0 percent. a) 4.74% b) 5.29% c) 6.69% d) 8.59%

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