E\&O Sevices has outstanding bonds with a face value of $1,000 that mature in 10 years. They are currently priced at $989. These bonds have a 6 percent coupon and pay interest annually. Ten-year Treasury bonds are currently yielding 3.6 percent. If the firm's tax rate is 34 percent, what is the firm's after-tax cost of debt? (round answer to whole number with two decimal points: i.e., use 1.23 percent instead of 0.0123 )