Jennifers Boutique has 12,000 bonds outstanding at a quoted price of 98 percent of face value. The bonds mature in eleven years and carry a 9 percent annual coupon. What is Jennifers aftertax cost of debt if the applicable tax rate is 35 percent? Please show work:

a. 5.77%

b. 6.04%

c. 6.14%

d. 6.23%

e. 6.33%