Complete the problems using excel formula. Show all work (display all the variables used in your formulas, and/or detail all steps used in determining the calculation)

1. A firm recently issued bonds which currently have the following features: a 5% coupon rate, 10 years until maturity, and a current price of $1,170.50. Determine the Yield to Maturity; assume annual payments.

2. The coupon rate on an issue of debt is 11%. The yield to maturity on this issue is 11%. The corporate tax rate is 34%. What would be the approximate after-tax cost of debt for a new issue of bonds? (Round your answer to 2 decimal places.)

3. A firm is paying an annual dividend of $7.00 for its preferred stock which is selling for $69.00. There is a selling cost of $4.00. What is the after-tax cost of preferred stock if the firm's tax rate is 39%? (Round your answer to 2 decimal places.)