I would like to get some help with this problem but NOT on financial calculator we are not allowed. Thank you.

50.Boulder Furniture has bonds outstanding that mature in 13 years, have a 6 percent coupon, and pay interest annually. These bonds have a face value of $1,000 and a current market price of $1,040. What is the company's aftertax cost of debt if its tax rate is 32 percent?

A.2.97 percent

B.3.24 percent

C.3.78 percent

D.5.21 percent

E.5.53 percent