You need to find out cost of debt for one company. The company has a corporate bond that has 8% coupon rate, compounding semiannually. The bond face value is $1,000 and is quoted at 116 percent of face value. It has 9 years left till maturity. What is the pretax cost of debt? (Enter your answers a percent rounded to 2 decimal places, for example, for answer 0.43%, enter 0.43 only)