Question 13 (1 point) Wang Co. will be selling bonds to raise funds to finance a project. The bonds will have annual coupon of 10%, Face Value of $1,000 and 15 years to maturity. Bonds will sell for $1,000 each but the flotation cost will be 5%. If Wang's tax rate is 30%, the after-tax cost of bond financing, including flotation cost, will be a) 7.48% b) 8.48% c) 9.48% d) 10.48%