Moving to another question will save this response. Save Answer uestion 11 10 points The company has 50,000 bonds with a 50 coupon rate paid annually. All the bonds will mature in 15 years and are currently selling at $1,050 per bond. The company also has 1,000,000 shares of common stock outstanding in the market. The stock sells at $65 per share and has a beta of 1.1. Further, there are 150,000 shares of preferred stock outstanding with each share trading at $90. The preferred stock pays an annual dividend of $6.50 per share. The firm pays a tax rate of 35%. The market risk premium is 7% and the risk free rate is 2.5%. What is the before tax cost of debt for the company? a. 6.50% b.5.9196 OC. 4.5396 d. 6.85% Moving to another question will save this response. Question 11 of 15 A OK 857 AM 7/1/2000 E