b. Yientieobiaa Ltd is offering 10 million units of 15-year bonds with a face value of GH1000 each. Though the bonds are being offered at a price of GH950 each, the bonds will be redeemed at a premium of 15%. The annual coupon rate of the bonds is 20%. Interest is payable at the end of every six months. A provision in the bond indenture requires that Yientieobiaa Ltd establishes a sinking fund to accumulate enough money to pay the total redemption value of the bonds upon maturity. To comply with this provision, Yientieobiaa Ltd plans to set aside an even amount at the end of each quarter over the next 15 years. Each of the even amounts that will be set aside will be invested at an annual interest rate of 24% with quarterly compounding. Required: Calculate the even amount that should be put into the sinking fund at the end of each quarter to raise enough money to pay the total redemption value of the bonds. (6 marks) c. Ten years ago, God'sway Ltd issued GH2.5 million of 6% discounted debenture at GH98 per GH100 nominal. The debentures are redeemable in 6 years from now at a GH2 premium over nominal value. They are currently quoted at GH79 per debenture, ex interest. The company pays tax at the rate of 30%. Required: Estimate the after tax cost of the debenture