Scripting question regarding cut and/or awk

I'm running into a slight quandary with this particular script I need. I have a used egrep to yank from a large number of config files the location parameter of various unity databases. I have that information in a script. For example, the data looks like:

/home/test/demo/new
/home/test/demo/old
/home/yikes/mydir/ss/new
/home/yikes/mydir/ss/old

So, the problem is each location doesn't have a particular field I can cut with "/" as the delimiter, however, the second to last field in that string is what I want: demo and ss. Is there an easy way to script this. I want to basically spin through this flat file (290 lines), in a new file print out the complete path and then on the same line separated by a space the second to last field.

The end result would look like:

/home/test/demo/new demo
/home/test/demo/old demo
/home/yikes/mydir/ss/new ss
/home/yikes/mydir/ss/old ss

Thanks for the help!