Suppose a company issues 10 year debt with a par value of $1,000 and a coupon rate of 5.8%, paid semi-annually. The issue price will be $950. The tax rate is 25% and the flotation costs are 4.5% of the issue proceeds. For the avoidance of doubt, assume the flotation costs are more than de minimis. What is the company's pre-tax cost of debt? What is the company's after-tax cost of debt