MC algo 14-10 Weighted Cost Of Debt Great Lakes Packing has two bond issues outstanding. The first issue has a coupon rate of 3.84 percent, a par value of $2,000 per bond, matures in 7 years, has a total face value of $5.3 million, and is quoted at 102 percent of face value. The second issue has a coupon rate of 6.61 percent, a par value of $1,000 per bond, matures in 16 years, has a total face value of $9.6 million, and is quoted at 105 percent of face value. Both bonds pay interest semiannually. The company's tax rate is 39 percent. What is the firm's weighted average aftertax cost of debt? Finance -2 class