Wind Power Systems Has 20-Year,semi-Annual Bonds Outstanding with a 5

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?

A) 3.98 percent
B) 4.42 percent
C) 4.71 percent
D) 5.36 percent
E) 5.55 percent