Please show work by hand, thanks!: Tangshan Mining is considering issuing long$-$term debt. The debt would have a $20$ year maturity and a $15$ percent coupon rate and male semiannual coupon payments. In order to sell the issue, bonds must be underpriced at a discountof $5$ percent of face value. The firm's tax rate is $40$ percent. Given this information, the after tax cost of debt for Tangshan mining would be