Galvatron Metals has a bond outstanding with a coupon rate of 6.9 percent and semiannual payments. The bond currently sells for $1,877 and matures in 19 years. The par value is $2,000 and the company's tax rate is 21 percent. What is the company's aftertax cost of debt?

Multiple Choice

3.76%

4.23%

3.51%

5.94%

4.85%