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Quantitative Problemt 5 years ago, Barton Industries issued 25 -year noncallable, semiannual bonds with a $1,600 face value and a 8% coupon, semiannual payment (

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Quantitative Problemt 5 years ago, Barton Industries issued 25 -year noncallable, semiannual bonds with a $1,600 face value and a 8% coupon, semiannual payment ( $64 payment every 6 months). The bonds currently sell for $845.87. If the firm's marginal tax rate is 40%, what is the firm's after-tax cost of debt? Round your answer to 2 decimal places. Do not round intermediate calculations

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