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A 4.5% bond with 6 months remaining until maturity is currently trading at $1,006. Assume semi- annual coupon payments. The firm's tax rate is 25%.

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A 4.5% bond with 6 months remaining until maturity is currently trading at $1,006. Assume semi- annual coupon payments. The firm's tax rate is 25%. The after-tax cost of debt is Margin of error for correct responses: +/-.05%). Rounding and Formatting instructions: Do not enter dollar signs or commas in your response. Do not round any intermediate work, but round your final response to 2 decimal places (example: if your answer is 12.34567%, you should enter 12.35)

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