Decline Inc. is trying to determine its cost of debt. The firm has a debt issue outstanding with 13 years to maturity that is quoted at 105.2 percent of par value. The issue makes semiannual payments and has an annual coupon interest of 6 percent. Assume that the tax rate is 25 percent. The after-tax cost of debt (i.e., the after-tax yield on bond) is _____ percent. Keep the percentage with two decimals