appeal, inc. has sold only one bond issue, $10 million face value of 20-year debt that pays annual interest at a rate of 6%, at a ytm of 6.5%. appeal's management is evaluating a project that would require the issuance of another $10 million face value of debt. if the new bond has a 7.0% coupon and can be sold with a ytm of 7.5%, the pre-tax cost of debt that appeal's management should use in evaluating the project is: