Rinck Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed below. If the corporate tax rate is 34 %, what is the after-tax cost of the company's market-value debt? (Answer is supposed to be 4.69%)

BondCoupon ratePrice QuoteMaturityFace Value

1 7.5%105.05 years $20,000,000

2 5.8 95.48 years 40,000,000

3 7.7103.8151/2 years45,000,000

4 8.1105.725 years60,000,000