Select all of the following which are true The after-tax cost of debt is usually less than the stated pre-tax interest rate, and is computed by multiplying the stated pre-tax interest rate by the tax rate. To the firm, the cost of debt is usually more than the cost of equity To the firm, the cost of equity is usually more than the cost of debt As compared to debt holders, shareholders are in a preferred position in the event of liquidation because the firm has usually pledged collateral as security for their investments Interest due to debt holders is a contractual obligation whereas a dividends are declared at the discretion of the Board of Directors