Flotation costs and the cost of debt Currently, Warren Industries can sell $15-$year, $ $1,000-$par$-$value bonds paying annual interest at a $9\%$ coupon rate. Because current market rates for similar bonds are just under $9\%,$ Warren can sell its bonds for $ $1,010$ each; Warren will incur flotation costs of $ $30$ per bond. The firm is in the $24\%$ 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.