Cote Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed in the following table. Bond 1 2 3 4 Coupon Rate Price Quote 6.00 103.50 7.50 110.82 7.20 110.17 6.80 103.07 Maturity 5 years 8 years 15.5 years 25 years Pace Value $ 45,000,000 40,000,000 50,000,000 65,000,000 If the corporate tax rate is 34%, what is the after-tax cost of the company's debt? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Cost of debt %