$($Individual or component costs of capital$)$ Compute the costs for the following sources of financing:

a$.$ A $$1,000$ par value bond with a market price of $$970$ and a coupon interest rate of $12$ percent. Flotation costs for a new issue would be approximately $9$ percent. The bonds mature in $13$ years and the corporate tax rate is $25$ percent.

b$.$ A preferred stock selling for $$104$ with an annual dividend payment of $$12.$ The flotation cost will be $$8$ per share. The company's marginal tax rate is $25$ percent.

c$.$ Retained earnings totaling $$4\mathrm{.}8$ million. The price of the common stock is $$75$ per share, and dividend per share was $$8\mathrm{.}02$ last year. The dividend is not expected to change in the future.

d$.$ New common stock for which the most recent dividend was $$2\mathrm{.}82.$ The company's dividends per share should continue to increase at a growth rate of $9$ percent into the indefinite future. The market price of the stock is currently $$61$; however, flotation costs of $$7$ per share are expected if th new stock is issued.

a$.$ What is the firm's after$-$tax cost of debt on the bond?

$\%($Round to two decimal places.$)$