Mullineaux Corporation has a target capital structure of $75$ percent common stock, $15$ percent preferred stock,Jiminy's Cricket Farm issued a $30-$year, $7$ percent semiannual bond $3$ years ago.

The bond currently sells for $93$ percent of its face value. The company's tax rate is

$22$ percent. What is the pretax cost of debt? What is the aftertax cost of debt?