Problem 14-24 Calculating the Cost of Debt (L03) Cote Import has several bond issues outstanding, each making semiannual Interest payments. The bonds are listed in the following table. Bond 1 2 3 4 Coupon Rate 6.50 8.00 7.70 7.30 Price Quote 183.28 110.60 109.95 182.85 Maturity 5 years 8 years 15.5 years 25 years Face Value $ 45,000,000 40,000,000 50,000,000 65,000,000 If the corporate tax rate is 34%, what is the after-tax cost of the company's debt? (Do not round Intermediate calculations. Round the final answer to 2 decimal places.) Cost of debt