Instructions: You are required to use a financial calculator or spreadsheet (Excel) to solve 10 problems related to the cost of capital (page 4). You are required to show the following 3 steps for each problem (sample questions and solutions are provided for guidance): (i) Describe and interpret the assumptions related to the problem. (ii) Apply the appropriate mathematical model to solve the problem. (iii) Calculate the correct solution to the problem. Submit all answers as percentages and round to two decimal places Ezally Corp. is investing in a new machine that will be financed by issuing new 25-year, $1,000 par, 7.5% semiannual coupon bonds. The bonds are currently selling in the market for $920. Flotation costs on newly issued bonds are $70. The corporations marginal tax rate is 35%. What is the posttax cost of debt for the newly-issued bonds?