Olmsted's outstanding bonds are priced at $1,023 and mature in 13 years. The bonds have a face value of $1,000, a coupon rate of 6.5%, and pay interest annually. The firm's corporate tax rate is 21 percent. What is the before tax cost of debt?

6.24 percent
		4.93 percent
		7.15 percent
		4.28 percent
		6.50 percent