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

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Accounting

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 22 percent, what is the aftertax cost of the companys debt?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.

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