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	5.2%	104.96	6	years	$ 58,000,000
2	6.8	113.72	9	years	53,000,000
3	6.7	112.27	16.5	years	73,000,000
4	6.0	101.51	26	years	80,000,000

If the corporate tax rate is 23 percent, what is the aftertax cost of the companys debt? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)