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You issued debt in the form of bonds, with a face value of $ 1 , 0 0 0 , and have 1 0 years

You issued debt in the form of bonds, with a face value of $1,000, and have 10 years until
maturity. The bonds have an annual coupon rate of 5.6%, which are paid semiannually.
a. The current price is $1,045. What is the pretax cost of debt?
(Do not round intermediate calculations and enter your answer as a percent
rounded to 2 decimal places, e.g.,12.34.)
b. The tax rate is 23%. What is the aftertax cost of debt?
(Do not round intermediate calculations and enter your answer as a percent
rounded to 2 decimal places, e.g.,12.34.)
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