Cost of debt using both methods (YTM and the approximation formula) Currently, Warren Industries can sell 15-year, $1,000-par-value bonds paying annual interest at a 11% coupon rate. As a result of current interest rates, the bonds can be sold for $1,020 each before incurring flotation costs of $25 per bond a. Find the net proceeds from the sale of the bond, Nd 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, N,s Round to the nearest dollar.)