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(Cost of doon Carway Seed Company is issuing a $1,000 per value bond that paya percent annual interest and matures in 12 years. Investors are

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(Cost of doon Carway Seed Company is issuing a $1,000 per value bond that paya percent annual interest and matures in 12 years. Investors are willing to pay $906 for the bond. Flotation costs will be 14 percent of market value. The company is in a 20 percentax bracket. What will be the s etax cost of debt on the bond? The fm's for tax cost of debt on the bond will be (Round to two decimal places)

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