Please explain the solution in words on how "After-Tax Cost of Debt" was solved.

Cost of debt Risk-free rate of Return Beta & R(m) CAPM Weighted Avg COE WACC (All numbers in Sthousands except percentage data) After-tax cost of Debt for the period ending 29th September, 2020 Particulars Interest Expense on Debt as on 29th Sept, 2020 Amount S437,000.00 Two-year average Current Debt Current Debt as on 29th Sept, 2020 Current Debt as on 29th Sept, 2019 $1.688,700.00 $0.00 Average of the above latest two-year debt 5844.350.000 $844,350.00 Two-year avcrage Long-term Debt Long-term Debt as on 29th Sept, 2020 Long-term Debt as on 29th Sept, 2019 $14,659.600.00 $11.167,000.00 Average of the above latest two-year debt $12,913,300.00 $12,913,300.00 $13,757,650.00 Total Average value of the Debt (Average of the Current Dcbt & Long-term Debt) 3.1764 % Cost of Debt (in %) (Interest expense Total average value of the Debt) Average Effective Tax Rate as on 29th September, 2020 (in %) 20.60% Tax Rate on 29th Sept, Effective Tax Rate as on 29th Sept, 2019 19.50% Average Effective Tax Rate as on 29th Sept. 2020 (in %) 20.05% 3.170015 After-tax Cost of debt (%) Cost of Debt (1-Tax rate)