Please show work

The cost of debt that is relevant when companies are evaluating new investments is the marginal cost of new debt to be raised to finance the new project. Consider the case of Nitreca Chemicals Inc. Nitreca Chemicals Inc. can issue a 20-year debt security that pays an annual coupon payment of $70. The bond carries a par value of dollar 1,000 and is currently trading at par. Based on this information, determine Nitreca Chemicals Inc.'s after-tax cost of debt if the firm's marginal fed era I-plus-state tax rate is 45%