Cold Duck Brewing Compary is considering issuing a new twenty-year debt issue that would pay an annual coupon payment of $70. Each bond in the issue would carry a $1,000 par value and would be expected to be sold for a market price equal to its par value. Cold Duck's cFo has pointed out that the firm will incur a flotation cost of 196 when initially issuing the bond issue. Remember, these flotation costs will be from the proceeds the firm will receive after issuing its new bonds. The firm's marginal federal-plus-state tax rate is 45% To see the effoct of flotation costs on cold Duck's afteritax cost of debt, calculate the before-fax and after-tax costs of the firm's debt lssue with and without its fiotation costs, and insert the correct costs into the boves. (Mint: Round yow ansiver to two decimal piaces.)