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The Lincoln Company sold a $1,000 par value, noncallable bond several years ago that now has 20 years to maturity and a 7.00% annual coupon

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The Lincoln Company sold a $1,000 par value, noncallable bond several years ago that now has 20 years to maturity and a 7.00% annual coupon that is paid semiannually. The bond currently sells for $925 and the company's tax rate is 35%. what is the after-tax cost of debt for use in the WACC calculation? A) 4.65% B) 5.03% C) 4.28% D) 4.46%

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