$($Cost of$$ debt$)$ Temple$-$Midland, Inc. is issuing a $$$$1$ comma $000$ par value bond that pays $8\mathrm{.}6$ percent annual interest and matures in $15$ years. Investors are willing to pay $$$$950$ for the bond and Temple faces a tax rate of $19$ percent. What is$$ Temple's after$-$tax cost of debt on the$$ bond?

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Part $1$

The$$ after$-$tax cost of debt is

$$

enter your response here$\%.($Round to two decimal$$ places.$)$