Nanotech plc has a bond issue maturing in seven years and paying a coupon rate of 9.5 per cent (semi-annual payments). The company wants to retire a portion of the issue by buying the securities in the open market. Required: If it can refinance at 8 per cent, how much will Nanotech pay to buy back its current outstanding bonds? Red Bell plc has debt claims of 400,000 (market value) and equity claims of 600,000 (market value). If the cost of debt financing (after tax) is 11 per cent and the cost of equity is 17 per cent, then what is Red Bell plc's Weighted Average Cost of Capital (WACC)