You need to choose between the following types of issues: A public issue of $10 mill on face value of 10-yerde t The interest rate on the debt wouldbe 75%, and the debt would be issu d at face value. The underwriting spread would be 16%, and other expenses would be $75,000 Private placement of $10 million face value of 10 year debt The interest rate on the private placement would be 8 0%, but the total issuing expenses would be only $31,000. a-1. Calculate the net proceeds of the public issue. (Enter your answer in dollers not in millions.) Net proceeds of the public issue the net proceeds of the private placement (Enter your answer in dollars not in millions. Round your answer to nearest a-2. Calculate whole dollar amount.) Net proceeds of the private placement b. Other things equal, which is the better deal? O Public issue O Private placement re to search