Kenny Electric Company's noncallable bonds were issued several years ago and now have 19 years to maturity. These bonds have a 8.25% annual coupon, paid semiannually, sells at a price of $1,100, and has a par value of $1,000. If the firm's tax rate is 40%, what is the component cost of debt for use in the WACC calculation?

a. 4.36% b. 5.33% c. 4.83% d. 4.58% e. 5.33%