A firm issued a $$1,000$ par value, $20-$year maturity bond $8$ years ago. The bond currently sells for $$857\mathrm{.}46$ and has a $6$ percent annual coupon that is paid semiannually. The firm$$s tax rate is $35$ percent. The firm$$s after$-$tax cost of debt is

percent.

Calculate to $1$ decimal place using the following formula:

$=$ Yield to maturity x $(1$ Tax rate$)$