A company's financial advisors have proposed the company undertakes the following bond issue: Bond Face Value: 10,000,000 (comprised of 10,000 units with a 1,000 par value) Coupon: 9% Maturity: 3 years Issue price per unit: 1,100 What is the annual interest cost of the proposed source of finance (answer to one decimal place with no % symbol i.e. X.X)