The cost of debt Gronseth Drywall Systems Inc. is in discussions with its investment bankers regarding the issuance of new bonds. The investment banker has informed the firm that different maturities will carry different coupon rates and sell at different prices. The firm must choose among several alternatives in each case, the bonds will have a $1.000 par value and fitation costs will be $30 per bond. The company is taxed at 26% Use the approximation formula o calculate the after fax cost of financing with the following alternative. (Click on the icon located on the top right corner of the datatable below in order to copy its contents into a spreadsheet) Coupon rate Time to maturity 5 years Premium or discount $300 19 The after tax cost of financing using the approximation formula is. (Round to two decimal places)