Suppose your company needs to raise $44 million and you want to issue 20-year bonds for this purpose. Assume the required return on your bond issue will be 8 percent, and you’re evaluating two issue alternatives: A 8 percent semiannual coupon bond and a zero coupon bond. Your company’s tax rate is 40 percent. How many of the zeroes would you need to issue? n 20 years, what will your company’s repayment be if you issue the coupon bonds? What if you issue the zeroes? Calculate the after tax cash flows for the first year for each bond. Coupon Bonds Inflow and Outflow? and Zero Coupon Bonds Inflow and Outflow?