can you solve this question without using excel? I need step by step hand writing answer.

thank you

Flotation costs and the cest of debt Currenty, Warten industries can sell 10-yoar, $1,000-par-value bonds paying arnual interest at a 13% coupon rato. Because current market rates for similat bonds are just under 13%, Warren can sell its bonds for $1,060 each; Waren will incur fotation costs of $25 per bond. The firm is in the 27% tax bracket. 3. Find the net proceeds from the saie of the bond, Ng : b. Calculate the belore-tax and after-tax costs of dobt a. The net proceeds trom the sale of the bond, N2, is 5 (Round to the nearess doliar.) b. The betore-ax cest d debt is h. (Round to two decimal places.) The afertax cost of debt is 4. (Round to two decmal placet)