Ying 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
1 5.0%, 104.86, 5 years, $ 30,000,000
2 6.5%, 113.52, 8 years, 25,000,000
3 6.2%, 112.07, 15.5 years, 45,000,000
4 5.8%, 101.31, 25 years, 40,000,000
If the corporate tax rate is 30 percent, what is the aftertax cost of the company’s debt? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Cost of debt %