White Shell Inc. is planning to issue several bonds. The bond has a $1,000 face value and a coupon rate of 8%, semiannually paid. The external issue of this bond will have a flotation costs of 12%. The current market value of a premium bond is $1,122.00. It will mature in 15 years. The marginal tax rate is 34%. What is the company's 'after-tax cost of debt? Select one: O a. 5.38% O b. 8.15% O c. 9.65% O d. 4.07%