Cote Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed in the following table. Price Bond Coupon Rate Quote 1 6.00 % 103.50 Maturity 5 years Face Value $ 45,000,000 2 7.50 110.82 8 years 40,000,000 3 7.20 110.17 15.5 years 50,000,000 4 6.80 103.07 25 years 65,000,000 If the corporate tax rate is 34%, what is the after-tax cost of the company's debt? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Cost of debt 1%