Cote Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed in the following table.

Bond		Coupon Rate				Price Quote				Maturity			Face Value
1			6.50	%			103.36			5	years		$	45,000,000
2			8.00				110.68			8	years			40,000,000
3			7.70				110.03			15.5	years			50,000,000
4			7.30				102.93			25	years			65,000,000

If the corporate tax rate is 34%, what is the after-tax cost of the companys debt? (Do not round intermediate calculations. Round the final answer to 2 decimal places.)

Cost of debt %