1. The total book value of WTCs equity is $13 million, and book value per share is $20. The stock has a market-to-book ratio of 1.5, and the cost of equity is 9%. The firms bonds have a face value of $9 million and sell at a price of 110% of face value. The yield to maturity on the bonds is 6%, and the firms tax rate is 40%. What is the companys WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) WACC=

2. Micro Spinoffs Inc. issued 20-year debt a year ago at par value with a coupon rate of 5%, paid annually. Today, the debt is selling at $1,140. If the firms tax bracket is 35%, what is its percentage cost of debt? Assume a face value of $1,000. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

3. Pangbourne Whitchurch has preferred stock outstanding. The stock pays a dividend of $12 per share, and sells for $80. The corporate tax rate is 35%. What is the percentage cost of the preferred stock? (Enter your answer as a whole percent.) Cost of preferred stock =

4. Reactive Power Generation has the following capital structure. Its corporate tax rate is 40%.

Security	Market Value			Required Rate of Return
Debt	$	30	million		4	%
Preferred stock		30	million		6
Common stock		40	million		10

What is its WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)