At the current time Warren Industries can issue 15-year $1000 par-value bonds pa

At the current time Warren Industries can issue 15-year $1000 par-value bonds paying annual interest at a 12% coupon rate. As a result of current interest rates the bonds can be sold for $1010 each. Flotation costs of $30 per bond will be incurred in the process (which implies that f = 2.97% or 0.0297 in decimal form) and the firm is in a 40% tax bracket.(a) Find the net proceeds from the sale of each bond for Warren Industries.Calculate the before-tax and the after-tax cost of debt for Warren Industries(b) Calculate the before-tax and the after-tax cost of debt for Warren Industries