ABC Corporation is getting a bank loan of $64 million. The maturity of this loan is 17 years and the interest will be 7% per year compounded monthly but the payments will be annual (i.e. one payment per year to the bank). Given that the aggregate corporate tax rate for this company is 32%, compute this loan's after tax cost of capital for the corporation. Write your answer as percentage (e.g. if your answer is 5%, write 5 not 0.05).