Cintas $($CTAS$),$ a leading provider of corporate rental uniforms, has significant borrowings and debt. Use the information in CTAS' debt footnote disclosure to estimate its pretax borrowing cost at May $31,2019.$Debt and Derivatives

Cintas' debt is summarized as follows at May $31$:

$(1)$ Variable rate debt instrument. The rate presented is the variable borrowing rate at May $31,2019.$

$(2)$ Cintas assumed these senior notes with the acquisition of G&K in the fourth quarter of fiscal $2017,$ and they were recorded at fair

value. The interest rate shown above is the effective interest rate. The principal amount of these notes is $$50\mathrm{.}0$ million with a stated

interest rate of $3\mathrm{.}73\%.$

$(3)$ Cintas assumed these senior notes with the acquisition of G&K in the fourth quarter of fiscal $2017,$ and they were recorded at fair

value. The interest rate shown above is the effective interest rate. The principal amount of these notes is $$50\mathrm{.}0$ million with a stated

interest rate of $3\mathrm{.}88\%.$