P9-5 (similar to) Question Help Before-tax cost of debt Gronseth Drywall Systems, Inc is in discussions with its investment bankers regarding the issuance of new bonds. The investment banker has informed the firm that different matunities will carry different coupon rates and sell at different pnces The firm must choose among several alternatives In each case, the bonds will have a $1.000 par value and flotation costs will be $35 per bond Calculate the before-tex cost of financing with the following alternative (Click on the icon here in order to copy the contents of the data table below into a spreadsheet) Coupon rate Time to maturity Premium or discount 10% 14 years $190 The boforo-tax cost of debt is % (Round to two decimal placen ) J2