The Wagner Corporation has a $5 million bond obligation outstanding. which it is considefing refunding. Though the bonds were initally issued at 15 percent, the interest rates on similar issues have declined to 108 percent. The bonds were originally issued for 30 years and have 26 years remaining. The new issue would be for 26 years. There is a 11 percent call premium on the old issue. The underwaiting cost on the new $5 million issue is $510,000, and the underwriting cost on the old issue was $360,000. The company is in a 35 percent tax bracket, and it will allow an overlap period of one month (t/2 of the year). Treasury bills currently yield 6 percent. (Do not round intermediate calculotions. Enter the answers in whole dollors, not in millions. Round the final answers to nearest whole dollar.) a. Calculate the present volue of total outflows Totai outflows b. Calculate the present value of total inflows. Total inflows: c. Calculate the net present value. Net present value d. Shoukd the old issue be refunded with new debt? Yes No