Find the IRR for the following 2, ten-year, financing alternatives: 1) A $100 million public issue of 8% annual coupon bonds. Flotation costs would be $1 million. 2) An 8%, $100 million private placement with semi-annual coupons. There would be a front-end placement fee of $500,000. Note: Call premiums and interest payments are tax deductible. However, front-end fees and floatation costs must be capitalized and amortized over the life of the bond.