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Acorp's outstanding bonds have a 4.7% coupon bond with 6 months remaining until maturity is currently...

Acorp's outstanding bonds have a 4.7% coupon bond with 6 months remaining until maturity is currently trading at $988.1. The firm's marginal tax rate is 30%. Assume semi-annual coupon payments. The company's after-tax cost of debt is__________%.

Do not round any intermediate work, but round your final answer to 2 decimal places (example: enter 12.34 for 12.34%). Do not enter the % sign.

Margin of error for correct responses: +/- .05%.

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