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Ying Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed...

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

Bond Coupon Rate Price Quote Maturity Face Value
1 8.70 % 106.2 7 years $ 21,000,000
2 6.70 94.2 10 years 37,000,000
3 8.40 105.0 17.5 years 42,000,000
4 8.90 94.8 27 years 57,000,000


If the corporate tax rate is 38 percent, what is the aftertax cost of the company’s debt? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
  
Aftertax cost of debt   

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