You are analyzing the after-tax cost of debt for a firm. You know that the firms 12-year maturity, 14.50 percent semi-annual coupon bonds are selling at a price of $1,090. Assuming that these bonds are the only debt outstanding for the firm. What is the current YTM of the bonds? (Round intermediate calculations to 4 decimal places, e.g., 1.2514 and final answer to 2 decimal places, e.g., 15.25%.)

What is the after-tax cost of debt for this firm if it has a marginal tax rate of 34 percent? (Round intermediate calculations to 4 decimal places, e.g., 1.2514 and final answer to 2 decimal places, e.g., 15.25%.)