Ewha Group is trying to determine its cost of debt.The firm has a debt issue outstanding with $12$ years to maturity that is quoted at $126\%$ of face value. The issue makes semiannual payments and has an embedded cost of $12\%$ annually. $1.$What is the company's pre$-$tax cost of debt? $2.$If the tax rate is $35\%,$ what is the after$-$tax cost of debt $?$