Cote Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed in the following table.

Bond		Coupon Rate		Price Quote	Maturity		Face Value
1			7.00	%			103.46			5	years		$	45,000,000
2			8.50				110.78			8	years			40,000,000
3			8.20				110.13			15.5	years			50,000,000
4			7.80				103.03			25	years			65,000,000

If the corporate tax rate is 34%, what is the after-tax cost of the companys debt? (Do not round intermediate calculations. Round the final answer to 2 decimal places.)