The chapter demonstrated that a firm borrowing in a foreign currency could potentially end up paying a very different effective rate of interest than what it expected. Using the same baseline values of a debt principal of CHF5476, a one-year period, an initial spot rate of CHF1.5000 = $1.00, a 5.00% cost of debt, what is the effective cost of debt for one year for a U.S. dollar-based company if the exchange rate at the end of the period was: CHF1.3860= $1.00? Enter as percentage and round to 2 decimal points, e.g., 5.47