Given that your company is private, you look at competitors to calculate the discount rate. You decide that the main competitors are Delta Airlines, United Airlines, and Southwest Airlines. You believe that your equity cost of capital is equival ent to the average of the three airlines (see below for detailed instructions on how to estimate this equity cost of capital). Your company bonds with a coupon of 6% and 8 years to maturity are trading at $1048.30. These bonds pay semi-annual coupons. Your company has a debt-to-assets ratio of 0.25 , and you plan on maintaining this leverage ratio for the foreseeable future. Tax rate is 34%. Estimate the cost of debt i.e., compute the yield-to-maturity for your bonds. (Use Excel function "IRR.")