= Homework: Chapter 9 Homework Question 2, P9-2 (simila... Part 1 of 5 HW Score: 0%, 0 of 11 points O Points: 0 of 1 Save 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 14% coupon rate. As a result of current interest rates, the bonds can be sold for $1,020 each before incurring flotation costs of $20 per bond. The firm is in the 30% tax bracket a. Find the net 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. a. The net proceeds from the sale of the bond, N., is $. (Round to the nearest dollar.)