Ying Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed in the table below.

#1.) If the corporate tax rate is 35 percent, what is the aftertax cost of the companys debt? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Aftertax cost of debt ______ %

Bond Coupon Rate 8.90% 6.90 8.60 9.10 Price Quote 106.4 94.0 105.2 95.0 Maturity Face Value 3 years $23,000,000 6 years 35,000,000 13.5 years 0,000,000 23 years 55,000,000