8.03% isnt the correct answer. please answer thank you

Cost of debn Carraway Seed Cormpary in issung a 51,000 par value bond that pays 8 percent anrual interest and mafures in a years. Invetorn are wiling to pay 5935 for the bond. Flotation cos ili be 12 percent of market value. The company is in a 38 percent tar bracbet. What wit be the firm an afectar cost of debe on the bond? The firmis ahne-tax cost of dobt on the bond will be (Round to two decimal places)