HW#11, Chapter 14 instructions | help Problem 14-22 Calculating the Cost of Debt [LO2] Ying Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed in the following table. Bond Coupon Rate Price Quote Maturity Face Value 1 5.5% 105.36 5 years $ 35,000,000 2 7.0 114.02 8 years 30,000,000 3 6.7 112.57 15.5 years 50,000,000 4 6.3 101.81 25 years 45,000,000

If the corporate tax rate is 34 percent, what is the aftertax cost of the companys debt? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Cost of debt_____ %