1. (12.5 Points) What is the market interest rate on XYZ's debt and its component cost of debt? I know n=30, PV=1153.72, PV=1000, however I am not sure where to go from here within excel.

Coupon rate = 12%

Coupons per year = 2

Years to maturity = 15

Price = $1,153.72

Face value = $1,000

Tax rate = 40%

I need to find the following

What is the Market Interest Rate =

What is the Cost of Debt =