Tiny Tots has debt outstanding, currently selling for $860 per bond. It matures in 12 years, pays interest annually, and has a 6% coupon rate. Par is $1,000, and the firm's tax rate is 25%. What is the after-tax cost of debt? The after-tax cost of debt for Tiny Tots is %. (Round to two decimal places.) Calculate the after-tax cost of debt for the following bond. The face value of the bond is $1,000, interest is paid annually, the coupon rate is 11% and the bond matures in 30 years. Assume that the corporate tax rate is 38%. When the bond was issued it sold for a price of $1,210. The after-tax cost of debt for the bond is %. (Round to two decimal places.)