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 5.9 % 105.76 5 years $ 39,000,000 2 7.4 114.42 8 years 34,000,000 3 7.1 112.97 15.5 years 54,000,000 4 6.7 102.21 25 years 49,000,000
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 %