Flotation costs and the cost of debt Currently, Warren Industries can sell 10-year, \\$1,000-par-value bonds paying annual interest at a \11 coupon rate. Because current market rates for similar bonds are just under \11. Warren can sell its bonds for \\( \\$ 1,090 \\) each; Warren will incur flotation costs of \\( \\$ 25 \\) per bond. The firm is in the \28 tax bracket a. Find the net proceeds from the sale of the bond, \\( N_{d} \\). b. Calculate the before-tax and after-tax costs of debt. a. The net proceeds from the sale of the bond, \\( N_{d} \\), is \\( \\$ \\) (Round to the nearest dollar.) b. The before-tax cost of debt is \. (Round to two decimal places.)