Cost of debt using both methods YTM and the approximation formula Currently Warren Industries can sell 15 year $1,000 par value bonds pa ng annual interest at a 11% coupon rate. Because current market rates or similar bonds are just under 11%, Warren can sell its bonds for S 1,030 each; Warren will incur flotation costs of $30 per bond. The firm is in the 23% tax bracket. a. Find the net proceeds from the sale of the bond, N b. Calculate the bond's yield to maturity ( YTM to estimate the before-tax and after-tax oosts of debt. c. Use the approximation formula to estimate the before-tax and after-tax costs of debt. a. The nat proceeds from the sale of the band, Nd, is (nd to the nearest dollar.) Using the bond's YTM, the before-tax cost of debt is 1 1%. (Round to two decimal places.) b. Using the bond's YTM, the after-tax cost of debt is 18.47 %. (Round to two cecimal places.) %. (Round to two decimal places.) Using the approximation formula, the before-tax cost of debt is c. Using the approximation formula, the after-tax cost of debt is | |% (Round to two decimal places.)