Devon Energy utilizes a number of sources of debt including corporate bonds. Devon has several bonds outstanding. We will use one specific corporate bond of Devon to represent the cost of debt on average for the whole company. Specifically, we will use the cost of debt of the Devon Bond maturing on $07-15-2041$ as a representative indicator of cost for all of Devon$$s debt. Recall that the current yield$-$to$-$maturity can be used to estimate the pre$-$tax marginal cost of debt. So$,$ essentially what you need to do is gather$/$collect the yield to maturity for this bond like what you did for the chapter $6$ miniproject $($recall this is available from the FINRA website$$please review chapter $6$ miniexercise$).$ The specific bond symbol we are interested in is DVN$3693715.$ Please enter the following information for the bond $($Maturity date has already been entered$)$:

Maturity date$=07/15/2041$

Coupon rate$=5\mathrm{.}6\%$

Yield $$ to $$ maturity from Website $($this will be your pre$-$tax marginal cost of debt$)=$ kd $=6\mathrm{.}29\%$

Date you gathered this information from the website$=04/20/2024$

QUESTION?

After tax cost of debt $($assume corporate tax rate of $22\%)=$ ki $=$ X$.$XX$\%$