Due Monday by 11pm Points 10 Available after Nov 1 at 10am Submitting an external tool FIN 3351(1) (1) Homework: HW 4 (Ch. 9 & 10 with 5% Save grade) Score: 0 of 1 pt 2 of 10 (3 complete) HW Score: 30%, 3 of 10 pts Problem 9-4 (similar to) Question Help (Cost of debt) Carraway Seed Company is issuing a $1,000 par value bond that pays 12 percent annual interest and matures in 8 years. Investors are willing to pay $980 for the bond. Flotation costs will be 12 percent of market value. The company is in a 25 percent tax bracket. What will be the firm's after-tax cost of debt on the bond? The firm's after-tax cost of debt on the bond will be % (Round to two decimal places.) Enter your answer in the answer box and then click Check Answer. All parts showing Clear All Check Answ E e