Cost of debt using both methods (YTM and the approximation formula) Currently, Warren Industries can sell 10-year, 51,000-par-value bonds paying annual interest at a 11% coupon rate. Because current market rates for similar bonds are just under 11%, Warren can sell its bonds for $1,070 each: Warren will incur flotation costs of $20 per bond. The firm is in the 26% tax bracket a. Find the net proceeds from the sale of the bond, Ng b. Calculate the bond's yield to maturity (YTM) to estimate the before-tax and after-tax costs of debt c. Use the approximation formula to estimate the before-tax and after-tax costs of debt. a. The net proceeds from the sale of the bond, Ng, iss (Round to the nearest dollar:) Enter your answer in the answer box and then click Check Answer 4 parts Clear All remaining Check