Revive Co. has outstanding 20-year noncallable bonds with a face value of $1000. These bonds have a current market price of $1382.73 and an annual coupon rate of 13%. The comp;any faces a tax rate of 35%. If the company wants to issue new debt, what would be a reasonable estimate for its after-tax cost of debt.

A. 6.9%

B 5.75%

C 5.18%

D 6.61%