Your undle Fred just purchased a new boat. He brags to you about the low 7.2% interest rate (APR, monthly compounding) he obtained from the dealer. The rate is even lower than the rate he could have obtained on his home equity loan (7.9%. APR, monthly compounding). But this tax rate is 22% and the interest on the home equity foon la tax deductible, which loan is truly cheaper? The after tax cost on the home equity loan is % (Round to two decimal places)