(Cost of debo Carraway Seed Compony is issuing a 51,000 par value bond that pays 11 percent annual interest and matures in 14 years, investors are wiling io pay 5935 for the bond. Fiotaton costs wil be 11 percent of market value. The company is in a 38 percent tax bracket. What will be the firmis after tax coss of debt on the bond? The firm's after-tac cost of debt on the bond will be 6. (Recund to two decimal places.)