Please help me figure out the problems below. Please show the detailed work. Thanks.

32. Beckham Corporation has semiannual bonds outstanding with nine years to maturity that are currently priced at $754.08. If the bonds have a coupon rate of 7.25 percent, then what is the after-tax

cost of debt for Beckham if its marginal tax rate is 30 percent? Complete the calculation as is done on Wall Street.

*a. 8.225%

b. 8.467%

c. 11.750%

d. 12.095%

33. Beckham Corporation has semiannual bonds outstanding with nine years to maturity that are currently priced at $754.08. If the bonds have a coupon rate of 7.25 percent, then what is the after-tax cost of debt for Beckham if its marginal tax rate is 30 percent? Complete the calculation using the effective annual interest rate (EAR. for the bond.

a. 8.225%

*b. 8.467%

c. 11.750%

d. 12.095%

21. Simco had annual sales of $180,000 with associated costs of $120,000 during 2012. The project increased net working capital $80,000 and fixed assets by $200,000 during the year. The project has a 10-year life. The company uses straight-line depreciation to a zero book value over the life of the project. The tax rate is 35 percent. What is Simcos cash flow from operations for 2012?

a. -$34,000

b. $26,000

*c. $46,000

d. $66,000

e. $180,000

22. Assume Simcos cash flow from operations in the problem above is $52,000. What is Simcos free cash flow for 2012?

*a. -$228,000

b. -$148,000

c. -$68,000

d. $52,000

e. $132,000