XYZ Company has a bond outstanding with 20 years remaining to maturity, a coupon rate of 8%, and annual payments. If the current market price is $1,050.97, and the par value is $1,000, what is the after-tax cost of debt if the tax rate is 40%? a. 4.50% b. 4.53% C. 4.47% d. 4.43% e. 4.40%