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Crabtree International has issued $1000 face value, 20-year 5% annual coupon bonds five years ago. The current quote for the bond is 102. The firm's

Crabtree International has issued $1000 face value, 20-year 5% annual coupon bonds five years ago. The current quote for the bond is 102. The firm's tax rate is 21%. What is the after-tax cost of debt? (Rd)(1 - Tc) a) 3.8% b) 5.82% c) 2.40% d) 9.62%

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