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Keys Printing plans to issue a $1,000 par value, 18-year noncallable bond with a 13% annual coupon, paid semiannually. The company's marginal tax rate is

Keys Printing plans to issue a $1,000 par value, 18-year noncallable bond with a 13% annual coupon, paid semiannually. The company's marginal tax rate is 43%, but Congress is considering a change in the corporate tax rate to 11%. By how much (in percent) would the component cost of debt used to calculate the WACC change if the new tax rate was adopted?

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