Ying Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed in the following table.
Bond, Coupon Rate, Price Quote, Maturity, Face Value
Bond 1, 5.4%, 105.26, 5 years, $ 34,000,000
Bond 2, 6.9%, 113.92, 8 years, 29,000,000
Bond 3, 6.6%, 112.47, 15.5 years, 49,000,000
Bond 4, 6.2%, 101.71, 25 years, 44,000,000
If the corporate tax rate is 35 percent, what is the aftertax cost of the company’s debt?