Malaya Corporation provided the following information: 1) 9% 30million bonds outstanding with 100 par value and 10 years remaining to maturity callable at 1042) 3 million Unamortized floatation costs and discount on old bonds 3) Corporate tax rate is 30% . The company is considering replacing the old issue with a new 30 million 8%, 10 year issue and floatation cost of 2 million. The overlap period during which both issues will be outstanding is expected to be one month. Compute for net Initial cash outlay. 0