Question 24 (3.33 points) You bought 150 call for $7 and sold a 170 call for $3, commission is $2 for both calls, market settles at 170. The gain or loss at expiration is: 1) loss of $8 2) loss of $9 3) gain of $12 4) gain of $20 Question 28 (3.33 points) Downtown City Tours has 10,000 semi-annual bonds that are currently quoted at $1,036. The bonds mature in 9 years and carry a 10 percent annual coupon. What is the company's after-tax cost of debt if the applicable tax rate is 34 percent? 1) 6.20 percent O2) 6.27 percent 3) 7.17 percent 4) 9.28 percent