9-12. (Cost of debt) Microfinance Company needs to raise $800,000 to improve its cash position. It has decided to issue a $1,000 par value bond with a 15 percent annual coupon rate and a 5-year maturity. The investors require a 16 percent rate of return. a. Compute the market value of the bonds. b. What will the net price be if the flotation costs are 5 percent of the market price? c. How many bonds will the company have to issue to receive the needed funds? d. What is the companys after-tax cost of debt if the average tax rate is 20 percent and the marginal tax rate is 30 percent?