3. Ying Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed in the following table. If the corporate tax rate is 34%, what is the after-tax cost of debt?

Bond	coupon rate	YTM	Maturity	# Outstanding
1	6%	4.5%	5 years	40,000
2	7.5%	6%	8 years	35,000
3	7.2%	8%	15 years	55,000
4	4%	5.5%	25 years	50,000