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Use the information below to determine before-tax cost of debt financing of bond S. The Selling Price of the Bond(P) Number of Years to Maturity

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Use the information below to determine before-tax cost of debt financing of bond S. The Selling Price of the Bond(P) Number of Years to Maturity (n) Annual Coupon Rate (paid annually) Par Value Floatation Costs Before - Tax Cost of Debt Financing(%) Bond S $1.050 29 6.55% $1,00 $2.39 ? Round the answer to two decimal places in percentage form.(Write the percentage sign in the "units" box)

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