Ausel's Furniture Stores has bonds outstanding that mature in 11 years, have a 7 % coupon, and pay interest annually. These bonds have a face value of $1,000 and a current market price of $1,002. What is the company's pre-tax cost of debt?

	6.65 %
	6.70 %
	7.20 %
	7.35 %
	7.50 %
	None of the above