Jays Bakery has a bond issue outstanding that matures in ten years. The bonds pay interest semiannually. Currently, the bonds are quoted at 102 percent of face value and carry a coupon rate of 10 percent. What is the firm's after tax cost of debt if the tax rate is 20 percent? Group of answer choices 7.95 percent 7.75 percent 8.85 percent 9.50 percent 8.35 percent