To help finance a major expansion, a company sold a noncallable bond several years ago that now has 15 years to maturity. This bond has a 5% annual coupon, paid semiannually, it sells at a price of...

To help finance a major expansion, a company sold a noncallable bond several years ago that now has 15 years to maturity.  This bond has a 5% annual coupon, paid semiannually, it sells at a price of $985, and it has a par value of $1,000.  If the company’s tax rate is 28%, what component cost of debt should be used in the WACC calculation?