Question 11 of 20 > Question 11 3 points Saver A firm has a bond issue outstanding and wants to know its pre-tax cost of debt Each band has a $1.000 par value 9 years to maturity a 7 coupon rate and currently sells for $1,115 The bond pays coupons twice per year or semiannually. What is the company's pre-tax cost of debt? Enter your answer as a percent rounded to 2 decimal places (eg, 12.35)