Cost of debt using the approximation formula For the following $1,000-par-value bond, assuming annual interesi payment and a 28% tax rate, calculate the after-tax cost to maturity using the approxination formula. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Coupon Interest rate Life years Discount (-) or premlum (+) $40 Underwriting tee $25 The after-tax cost of financing using the approximation formula is %. (Round to two decimal places.) Enter your answer in the answer box