The Landry Corporation needs to raise $1.30 million of debt on a 15-year issue. If it places the bonds privately, the interest rate will be 11 percent, and $35,000 in out-of-pocket costs will be incurred. For a public issue, the interest rate will be 10 percent, and the underwriting spread will be 4 percent. There will be $150,000 in out-of-pocket costs. Assume interest on the debt is paid semiannually, and the debt will be outstanding for the full 15 years, at which time it will be repaid. (Use a Financial calculator to arrive at the answers.) The Landry Corporation needs to raise $1.30 million of debt on a 15-year issue. If it places the bonds privately, the interest rate will be 11 percent, and $35,000 in out-of-pocket costs will be incurred. For a public issue, the interest rate will be 10 percent, and the underwriting spread will be 4 percent. There will be $150,000 in out-of-pocket costs. Assume interest on the debt is paid semiannually, and the debt will be outstanding for the full 15 years, at which time it will be repaid. (Use a Financial calculator to arrive at the answers.) a. For each plan, compare the net amount of funds initially availableinflowto the present value of future payments of interest and principal to determine net present value. Assume the stated discount rate is 12 percent annually, but use 6.00 percent semiannually throughout the analysis. (Disregard taxes.) (Negative answers should be indicated by a minus sign. Do not round intermediate calculations. Enter the answers in dollars not in millions. Omit $ sign in your response. Round the final answer to the nearest whole dollar.).