Watanabe, Incorporated, is trying to determine its cost of debt. The firm has a debt issue outstanding with $28$ years to maturity that is quoted at $107$ percent of face value. The issue makes semiannual payments and has an embedded cost of $4$ percent annually.

What is the company$$s pretax cost of debt?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

If the tax rate is $22$ percent, what is the aftertax cost of debt?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$