Cost of debt using both methods YTM and the approximation ormula Currently, Warren Industries can se 15-year $1,000 par value bonds paying annual interest at a 13% coupon rate. As a result o current interest rates, the bonds can be sold for S 1,040 each before incurring flotation costs of S35 per bond. The firm is in the 40% 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