Question: 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

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
17.00%103.305 years $ 45,000,000
28.50110.628 years 40,000,000
38.20109.9715.5 years 50,000,000
47.80102.8725 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.)
Cost of debt %

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