Waller, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 14 years to maturity that is quoted at 91 percent of face value. The issue makes semiannual payments and has an embedded cost of 12 percent annually. Enter answers as a percentage.

a) What is the company's pretax cost of debt? (Do not round your intermediate calculations.)

b) If the tax rate is 32 percent, what is the aftertax cost of debt?