Cost of debt using both metheds (YTM and the approximation formula) Currently. Warren industries can sell 20 -year; $1,000parvalue bonds paying annual interest at a 8% coupon rate. Because current market rates for similar bonds are just under 8%, Warren can se:l its bonds for $950 each. Warren will incur flotation costs of $25 per bond. The firm is in the 24% lax bracket. a. Find the net proceeds from the sale of the bond, Nd b. Calculate the bonds yieid to matunty (YTM) to estimate the before-tax and after-tax costs of doth. c. Use the approximation formula to estimate the before-tax and afler-tax costs of debt. a. The net proceeds from the sale of the bond, Nd is s (Round to the nearest dollar.)