Problem 14-7 Calculating Cost of Debt [LO2] Jiminy's Cricket Farm issued a bond with 15 years to maturity and a semiannual coupon rate of 6 percent 4 years ago. The bond currently sells for 93 percent of its face value. The company's tax rate is 23 percent. a. What is the pretax cost of debt? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the aftertax cost of debt? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) X Answer is complete but not entirely correct. a. Pretax cost of debt 12.00 % b. Aftertax cost of 9.24 X % debt