ANSWER PARTS A AND B FOR THUMBS UP AND REVIEW!!

Flotation costs and the cost of debt Currently, Warren industries can sell 20 -year, $1,000-par-value bonds paying annual interest at a 12% coupon rate. Because current market rates for similar bonds are just under 12%. Warren can sell its bonds for $970 each; Warren will incur flotation costs of $25 por bond. The firm is in the 26% tax bracket. a. Find the net proceeds from the sale of the bond, Nd b. Calculate the belore-tax and after-tax costs of debt. a. The net proceeds from the sale of the bond, Nd, is (Round to the nearest dollar.)