Octopus Transit has a $$1,000$ par value bond outstanding with $10$ years to maturity. The bond carries an annual interest payment of $$92,$ payable semiannually, and is currently selling for $$1,099.$ Octopus is in a $30$ percent tax bracket. The firm wishes to know what the aftertax cost of a new bond issue is likely to be$.$ The yield to maturity on the new issue will be the same as the yield to maturity on the old issue because the risk and maturity date will be similar.