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The dollar cost of debt for Coval Consulting, a U.S. research firm, is 7.7%. The firm faces a tax rate of 34% on a matter where it is earned. Managers in the firm need to know its yen cost of debt because they are considering a new bond issue in Tokyo to raise money for a new investment there. The risk-free interest rates on dollars and yen are r_s = 5% and r_yen = 1.2% respectively. Coval Consulting is willing to assume that capital markets are internationally integrated and that its free cash flows are uncorrelated with the yen-dollar spot rate. What is Coval Consulting's after-tax cost of debt in yen? The after-tax cost of debt in dollars is %. (Round to two decimal places.) The cost of equity is %. (Round to two decimal places.)