Rocking Recliners Inc. has a bond with a $10$ year maturity date and a $8\%$ semiannual coupon rate. The bond has a nominal yield to maturity of $11\%.$ The firm would pay a $$15$ flotation cost. What is the bond's cost of debt if the firm is in the $35\%$ tax bracket?

Edible Egg Farms has bonds outstanding with $3\mathrm{.}5\%$ semiannual coupon rate with a vield to maturity of $8\%.$ The bond matures in $15$ vears. The firm