Cost of debt using both methods (YTM and the approximation formula)Currently, Warren Industries can sell , $-par-value bonds paying annual interest at a % coupon rate. Because current market rates for similar bonds are just under %, Warren can sell its bonds for $ each; Warren will incur flotation costs of $ per bond. The firm is in the % tax bracket. a.Find the net proceeds from the sale of the bond, . 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. Question content area bottom Part 1 a.The net proceeds from the sale of the bond, , is $ enter your response here. (Round to the nearest dollar.)