Cost of debt using both methods (YTM and the approximation formula) Currently, Warren Industries can sel 15-year, $1,000 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 $960 each Warren will incur notation costs of $30 per bond The form is in the 26% tax bracket a. Find the nel proceeds from the sale of the bond, No 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