Use the following data for the ned $5$ questions:Debt$67\mathrm{.}000$ bonds with a $5\mathrm{.}0\%$ coupon rate. pagable annually, $15$ years to maturity, selling at $$1,050$ per bondCommonStock$722,000$ shares of common stock outstanding. The stock sells for a price of $$95$ per stare and has a beta of $1\mathrm{.}03.$PreferredStock$297,000$ preferred shares outstanding. currently trading at $$77\mathrm{.}01$ per share; with an annual dividend payment of $$9\mathrm{.}92,$MarketThe market risk premium is $14\%$ and the risk free rate is $3\%$Tax Rate$31\%$What is the before tax cost of debt $($RA$)?($Answer as a percentage and tound to $2$ dcitals$)$ a$.1\mathrm{.}80\%$ b$.741\%$ c$.2\mathrm{.}38\%$ d$.6\mathrm{.}93\%$ e$.4\mathrm{.}53\%$