you are asked to estimate yellow iris corp After tax cost of debt financing. It can issue 18 years to maturity bonds with a coupon rate of 9.86% paid annually, and par value of $1000. The bonds can be sold now at a price of 1,053$ each. Marginal tax rate is 35%. The investments banker will charge 3$ per bond in floation costs. Determine after tax cost of debt

a. 6.03% b. 14.67 c. 8.54 d. 12.23 show work