On January 1, Year 1, Brown Co, issued bonds with a face value of $104,000, a stated rate of interest of 9%, and a 20 year term to maturity. The bonds were issued at face value. If Bluefield's tax rate is 40%, what is the after-tax cost of borrowing related to these bonds for Year 1 ? Multiple Choice $3,744 $5,616 $9,360 $13,104