Providence Industries has an outstanding debenture of $25 million that was issued when flotation costs could be expensed Immediately. It carries a coupon rate of 10 percent and has 15 years to maturity. Currently, similar risk bonds are ylelding 9 percent over a 15-year period, and Providence is wondering if a refunding would be economically sound The existing debenture has a call premium of 5 percent at present. It is estimated that a new issue would require underwriting costs of $470,000 and other costs of $80,000. No overlap period would be required. Providence Industries has a tax rate of 25 percent its cost of capital is 16 percent a-1. Compute the discount rate. (Round the final answer to 2 decimal places.) Discount rate a-2. Calculate the present value of total outflows. (Round "PV Factor" to 4 decimal places. Do not round intermediate. calculations. Round the final answer to nearest whole dollat) Total outflows a-3. Calculate the present value of total inflows. (Round "PV Factor" to 4 decimal places. Do not round intermediate calculations. Round the final answer to nearest whole doliar.) Total inflows a-4. Calculate the net present value. (Round "PV Factor" to 4 decimal places. Do not round intermediate calculations. Round the final answer to nearest whole dollar.) Net present value a-5. Should Providence Industries refund the old issue? Yes No b. This part of the question is not part of your Connect assignment. c. This part of the question is not part of your Connect assignment