P9-4 (similar to) Tutoring Question Help Cost of debt using the approximation formula For the following $1,000-par-value bond, assuming annual interest payment and a 22% tax rate, calculate the after-tax cost to maturity using the approximation formula. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Discount (-) or Coupon Life Underwriting fee premium (+) interest rate $20 - $40 7% 25 years The after-tax cost of financing using the approximation formula is %. (Round to two decimal places.) Enter your answer in the answer box and then click Check Answer All parts showing Clear All Pra Check