Question: need some help solving this step by step without excel thank you! Assume a zero-coupon bond was issued with a face value of $1000000 and

need some help solving this step by step without excel thank you!need some help solving this step by step without excel thank you!

Assume a zero-coupon bond was issued with a face value of $1000000 and net proceeds from the issue were 95% of this amount. If the bond had 10 years to maturity, calculate the approximate before-tax cost of this zero-coupon bond: Select one: A. 5.21% B. 5% C. 12% D. 0.51%

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