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 following table.
Bond
Coupon Rate
Price Quote
Maturity
Face Value
1
6.1
%
105.96
5
years
$
41,000,000
2
7.6
114.62
8
years
36,000,000
3
7.3
113.17
15.5
years
56,000,000
4
6.9
102.41
25
years
51,000,000
If the corporate tax rate is 35 percent, what is the aftertax cost of the companys debt? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Cost of debt
%
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