Problem $14-24$ Calculating the Cost of Debt $($LO$3)$

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

$16\mathrm{.}00\%103\mathrm{.}425$ years $ $45,000,000$

$27\mathrm{.}50110\mathrm{.}748$ years $40,000,000$

$37\mathrm{.}20110\mathrm{.}0915\mathrm{.}5$ years $50,000,000$

$46\mathrm{.}80102\mathrm{.}9925$ years $65,000,000$

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