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Question with Four possible answers, I just need to know the steps and answer thanks The cost of debt: PackMan Corporation has semiannual bonds outstanding

Question with Four possible answers, I just need to know the steps and answer thanks

The cost of debt: PackMan Corporation has semiannual bonds outstanding with nine years to maturity and are currently priced at $754.08. If the bonds have a coupon rate of 7.25 percent, then what is the after-tax cost of debt for PackMan if its marginal tax rate is 30 percent? Complete the calculation as is done on Wall Street.

7.050%

8.225%

12.095%

11.750%

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