$($Cost of debt$)$ Temple$-$Midland, Inc. is issuing a $$1,000$ par value bond that pays $8\mathrm{.}9$ percent annual interest and matures in $15$ years. Investors are willing to pay $$955$ for the bond and Temple

faces a tax rate of $24$ percent. What is Temple's after$-$tax cost of debt on the bond?

The after$-$tax cost of debt is

$\%.($Round to two decimal places.$)$