Suppose Uber Inc. is planning to issue some $1,000 par value, 6 years, 3% coupon bond and will be sold at a price of $945. If the company expects to incur a flotation cost of 4% of the par value and its marginal tax rate is 14% percent then what is the annual after-tax cost of debt to the company on this issue? (Enter the answer in terms of percentage but do not inter the "%" sign and round your answer to two decimal point)