Suppose your company needs to raise $35.3 million and you want to issue 23-year bonds for this purpose. Assume the required return on your bond issue will be 7.8 percent, and youre evaluating two issue alternatives: a 7.8 percent semiannual coupon bond and a zero coupon bond. Your companys tax rate is 35 percent.

Assume that the IRS amortization rules apply for the zero coupon bonds.

Calculate the firms aftertax cash outflows for the first year under the two different scenarios. (Do not round intermediate calculations. Input a cash outflow as a negative value and a cash inflow as a positive value. Enter your answers in dollars, not millions of dollars (e.g., 1,234,567). Round your answers to 2 decimal places (e.g., 32.16).)

Coupon bond cash flow	$
Zero coupon bond cash flow	$