Prescott Corporation issues a $$1,000$ par, $30$ year bond paying the coupon rate of $7\mathrm{.}75\%.$ The bond will sell for $$990\mathrm{.}81,$ but flotation costs amount to $$12\mathrm{.}50$ per bond.

What is the pre$-$tax and after$-$tax cost of debt for Prescott Corporation?

$1.$ Cost of debt if the # of yrs increased to $40$ yrs$?$

$2.$ Cost of debt if the # of yris decreased to $20$ yrs$?$

$3.$ State the relationship between cost of debt and # of yrs$.$