P14-6 Calculating Cost of Debt [LO2] Waller, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 10 years to maturity that is quoted at 92 percent of face value. The issue makes semiannual payments and has an embedded cost (i.e. a coupon rate as an APR) of 8 percent annually. Required: What is the company's pre-tax cost of debt as an APR? (Do not round your (a). 'intermediate calculations.) (Click to select) (b)lf the tax rate is 36 percent, what is the after-tax cost of debt as an APR? (Do not round your intermediate calculations.) (Click to select)