Suppose you are frying to estimate the afier tax cost of debt for a firm as part of the calculation of the Weighted Average Cost of Capital (WACC) The corporate tax rate for this firm is 38\%. The firm's bonds pay interest semiannually with a 5.9% coepon rate and have a matuity of 9 years. If the current price. of the bonds in $927.36, what is the after tax cost of debt for this firm? (Answer to the nearest tenth of a percent, e.9 12.3\%, but do not use a percent sign)