Omni Consumer Products Company (OCP) can borrow funds at an interest rate of 9.70% for a period of eight years. It's marginal federal-plus-state tax rate is 40%. OCP's after-tax cost of debt is? At the present time, OCP has 20-year noncallable bonds with a face value of $1000 that are outstanding. These bonds have a current market price of $1,191.96 per bond, carry a coupon rate of 13%, and distribute annual coupon payments. The company incurs a federal-plus-state tax rate of 40%. If OCP wants to issue new debt, what would be a reasonable estimate for its after-tax cost of debt?