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Homework: Chapter 09 Homework Save Score: 0 of 1 pt 2 of 10 (1 complete) HW Score: 1.67%, 0.17 of 10 pts P9-2 (similar to) Question Help Cost of debt using both methods (YTM and the approximation formula) Currently, Warren Industries can sell 10-year, $1,000-par-value bonds paying annual interest at a 14% coupon rate. Because current market rates for similar bonds are just under 14%, Warren can sell its bonds for $1,040 each; Warren will incur flotation costs of $30 per bond. The firm is in the 28% tax bracket. a. Find the net proceeds from the sale of the bond, NJ. b. Calculate the bond's yield to maturity (YTM) to estimate the before-tax and after-tax costs of debt. c. Use the approximation formula to estimate the before-tax and after-tax costs of debt. a. The net proceeds from the sale of the bond, No, is $ . (Round to the nearest dollar.) Enter your answer in the answer box and then click Check Answer. ? parts remaining Clear All Check