At the present time, Omni Consumer Products Company (OCP) has 20-year noncallable bonds with a face value of exist1,000 that are outstanding. These bonds have a current market price of exist1, 181.96 per bond, carry a coupon rate of 13%, and distribute annual coupon payments. The company incurs a federal-plus-state tax rate of 35%. If OCP wants to issue new debt, what would be a reasonable estimate for its after-tax cost of debt (rounded to two decimal places)? 5.59% 6.99% 8.39% 6.29%