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 8.80 % 106.8 4 years $ 27,000,000 2 7.00 93.6 7 years 31,000,000 3 8.50 105.6 14.5 years 36,000,000 4 9.00 95.4 24 years 51,000,000 If the corporate tax rate is 40 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 %