1). Peytons Colt Farm just issued 7% semiannual coupon bonds with 30 years to maturity and a face value of $1000. The bonds sell for 94% of par value and the companys tax rate is 35%. What is the pre-tax cost of debt? Show calculations

2)Rainbow in the Dark Manufacturing uses only debt and equity in its capital structure and has a target debt to equity ratio of 0.65. Its cost of equity is 13%, and its pretax cost of debt is 8%. If the tax rate is 35%, what is the companys WACC? Show calculations