Gillian Stationery Corporation needs to raise $616,000 to to improve its manufacturing plant. It has decided to issue a $1000par value bond with an annual coupon rate of 7.7% with interest paid semiannually and a 15 year maturity. Investors require a rate of return of 10.2 %

a. Compute the market value of the bonds.

b.How many bonds will the firm have to issue to receive the needed funds?

c.What is the firm's after-tax cost of debt if the firm's tax rate is 34 percent?