Wind Power Systems has 20-year, semi-annual bonds outstanding with a 5 percent coupon. The face amount of each bond is $1,000. These bonds are currently selling for 114 percent of face value. What is the company's pre-tax cost of debt?

Question 11 options:

	3.98 percent
	4.42 percent
	4.71 percent
	5.36 percent
	5.55 percent