ABC Corporation plans to issue an 8%, 15-year, P5,000,000 face value bonds. It will incur P300,000 as underwriting fee. What is the cost of the bond based on the following methods? 1....

ABC Corporation plans to issue an 8%, 15-year, P5,000,000 face value bonds. It will incur P300,000 as underwriting fee. What is the cost of the bond based on the following methods?

1. Yield-to-maturity formula

2. Trial and error method (closest percent, 5 decimal places)