Empire Electric Company (EEC) uses only debt and common equity. It can borrow unlimited amounts at an interest rate of rd = 9.1% as long as it finances at its target capital structure which calls for 48% and the rest in common equity. Its last dividend (D0) was $6.69 its expected constant future growth rate is 9.9%, and its common stock sells for $21.1. EEC's tax rate is 26%. What is EEC's after tax cost of debt? State your answer as a percentage to 2 decimal places.