PY-4 (similar to) Question Help Cost of debt using the approximation formula For the following S1,000-par-value bond, assuming annual interest payment and a 27% 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.) Life 15 years Underwriting fee $35 Discount (-) or premium (+) $20 Coupon interest rate 11% The after-tax cost of financing using the approximation formula is %. (Round to two decimal places.)