Russell Container Company has a $$1,000$ par value bond outstanding with $20$ years to maturity. The bond carries an annual interest payment of $$119,$ and is currently selling for $$940$ per bond. Russell is in a $40$ percent tax bracket. The firm wishes to know what the aftertax cost of a new bond issue is likely to be$.$ The yield to maturity on the new issue will be the same as the yield to maturity on the old issue because the risk and maturity date will be similar. A$.$ Compute the yield to maturity on the old issue and use this as the yield for the new issue? B$.$ Make the appropriate tax adjustment to determine the aftertax cost of debt?