[1 point] CoffeeCarts has a cost of equity of 15%, has an effective cost of debt of 4%, and is financed 70% with equity and 30% with debt. What is this firm's after-tax WACC?

1 point] Hardmon Enterprises is currently an all-equity firm with an expected return of 12%. It is considering a leveraged recapitalization in which it would borrow and repurchase existing shares. Assume perfect capital markets with no taxes. Suppose Hardmon borrows to the point that its debt-equity ratio is 0.50. With this amount of debt, the debt cost of capital is 6%. What will be the expected return of equity after this transaction? Express your answer as a percentage with two decimals.

[1 point] Your firm is financed 100% with equity and has a cost of equity capital of 12%. You are considering your first debt issue, which would change your capital structure to 30% debt and 70% equity. If your cost of debt is 7%, what will be your new cost of equity? Assume no change in your firm's WACC due to the change in capital structures.

[1 point] Milton Industries expects free cash flows of $11 million each year. Milton's corporate tax rate is 22%, and its unlevered cost of capital is 14%. Milton also has outstanding debt of $21.85 million, and it expects to maintain this level of debt permanently. What is the value of Milton industries with leverage (in millions)?