Nine Point Industries is contemplating a new investment to be financed with debt. The firm could sell new $1,000 par value bonds with a 10% coupon rate and semi-annual payments. The bonds would mature in 20 years. The bonds would sell at par, but flotation costs would amount to 5% of par value. The firm has a 21% marginal tax rate. What is the firm's after-tax cost of debt financing? O 10.61% O 10.55% 7.90% O 8.38% 10.00%