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Please use formulas instead of excel to solve. 21. A firm's WACC is estimated to be 8.61%. Its cost of equity is 11.4% and it

image text in transcribedPlease use formulas instead of excel to solve.

21. A firm's WACC is estimated to be 8.61%. Its cost of equity is 11.4% and it is subject to a 36% income tax rate. The firm's debt-to-equity ratio is 0.25. What is the firm's after-tax cost of debt? A. B. C. D. 11.68% 12.24% 19.45% 12.45%

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