SnowCone King is reviewing its capital budgeting proposals. The firm's corporate tax rate is 21%, and its target capital structure is 40% debt and 60% equity. Given this information, answer the following questions: 1. Calculate the firm's after-tax cost of debt, if the firm is looking to sell 30-year bonds for $950 cach, if the bonds will carry an annual coupon of 10%, par value of $1,000, and flotation costs of S10 per bond