Question: 6.34 is the incorrect answer for my practice assignment. Please help solve! Dallas Inc. issued a noncallable bond 5 years ago that now has 15

6.34 is the incorrect answer for my practice assignment. Please help solve!

Dallas Inc. issued a noncallable bond 5 years ago that now has 15 years to maturity. This bond has a 9.25% coupon rate with an annual payment and a $1,000 face value. This bond currently sells at a price of $1,075. If the firm's tax rate is 25%, what is the after-tax cost of debt? 8,46% 6.27% 7,43% 6.34% 8.35%

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