Q33 Summerside Corp. (SC) has perpetual semi-annual coupon bonds outstanding. The yield to maturity (YTM) on these bonds is 14.3% (APR, semi-annually compounded). Analysts estimate that the equity beta of SSC is 1.0. The yield to maturity on risk-free bonds is currently 6% (EAR). What is SC's (before-tax) cost of debt (EAR)? [Answer: Percentage number. If the answer is 12.34% write either 12.34 (number with 2 decimals) or 0.1234 (number with 4 decimals). Do not include "%.]