1. A company wants to raise money. The company will sell $12M of common stock, the expected return is 18%. The company has $5M in preferred stock at a rate of 10%. Moreover, the company will issue $8M of debt, the cost of debt is 13% and the tax rate is 30%. Find the WACC (show your solution)

2. Find the future value of $10,000, earning 5% interest per quarter after two years.