(Cost of debt) Bolton Distribufion Company is issuing a $1,000 par value bond that pays 7.3 percent annual interest and matures in 15 years that is paid serriannually, thvestors are wiling to pay $962 for the bond. The company is in the 20 percent marginal tax bracket. What is the firm's after-tax cost of debt on the bend? The firm's atter.tax cost of debt on the bond is \%. (Round to two decimal places.)