A firm issued a $$5,000$ par value, $10-$year maturity bond $2$ years ago. The bond currently sells for $$5,550\mathrm{.}31$ and has an $8$ percent annual coupon. The firm$$s tax rate is $33$ percent. The firm$$s after$-$tax cost of debt is

percent.

Calculate to $2$ decimal places using the following formula:

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