Himiny's Cricket Farm Issued a 28-year, 15 percent semiannual bond 2 years ago. The bond currently sells for 95 percent of its face value. The company's tax rate is 34 percent. What is the pretax cost of debt? (Do not round intermediate calculations. Enter your answer as a percentage, omit the "%" sign in your response, and round your answer to 2 decimal places. For example, 0.12345 or 12.345% should be entered as 12.35.)