Question Help P9-2 (similar to) Cost of debt using both methods (YTM and the approximation formula) Currently, Warren Industries can sell 20-year, S1,000-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 $1,010 each; Warren will incur flotation costs of $25 per bond. The firm is in the 23% tax bracket a. Find the nel proceeds from the sale of the bond, N, b. Calculate the bonds ylold to maturity (TM) 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 The not proceeds from the wo of the bond, No, (Round to the nearest dollar)