Neptune Corporation's bonds have 15-year bonds with a coupon rate of 12% Interest is paid semiannually. The bonds sold at par value, but the paid flotation costs amounting to 2% of par value. The firm has a marginal tax rate of 21%. What is the firm's after-tax cost of debt for these bonds?

Neptune Corporation's bonds have 15-year bonds with a coupon rate of 12%. Interest is paid semi-annually. The bonds sold at par value, but the firm paid flotation costs amounting to 2% of par value. The firm has a marginal tax rate of 21%. What is the firm's after-tax cost of debt for these bonds? O 12.30% O 7.61% 4.82% 12.0% 9.71%