Mudvayne, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with $14$ years to maturity that is quoted at $106$ percent of face value. The issue makes semiannual payments and has an embedded cost of $8$ percent annually.

What is the company$$s pretax cost of debt? $($Do not round intermediate calculation and round your answer to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16))$

Cost of debt

$\%$

If the tax rate is $35$ percent, what is the aftertax cost of debt? $($Do not round intermediate calculations and round your answer to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16))$

Cost of debt

$\%$