11-14 The cost of Debt and Floration de Suppose a company will issue new 20-year debt with a par value of $1,000 and a coupon rate of 9%, pald annually. The issue price will be $1,000. The ux rate is om in the flotation cost is 2% of the issue proceeds, then what is the after-tax cost of debt? What if the flotation costs were 10% of the bond issue