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Given the following debt information for Huntington Power Co., find the after-tax cost of debt. Assume the company's tax rate is 35 percent. Debt: 6

Given the following debt information for Huntington Power Co., find the after-tax cost of debt. Assume the company's tax rate is 35 percent. Debt: 6 percent coupon paid semiannually, $1,000 par value, 30 years to maturity, current market price of the bond is $1,080. Floatation cost is $15 per bond. a. 2.90% b. 4.69% C. 3.61% d. 4.22%

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