14 Caspian Sea Drinks' is financed with 67.00% equity and the remainder in debt. They have 12.00-year, semi-annual pay. 5.64% coupon bonds which sell for 97.10% of par. Their stock currently has a market value of $25.51 and Mr. Bensen believes the market estimates that dividends will grow at 3.18% forever. Next year's dividend is projected to be $2.53. Assuming a marginal tax rate of 28.00%, what is their WACC (weighted average cost of capital)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) #3 Caspian Sea Drinks is considering the production of a diet drink. The expansion of the plant and the purchase of the equipment necessary to produce the diet drink will cost $26.00 million. The plant and equipment will be depreciated over 10 years to a book value of $2.00 million, and sold for that amount in year 10. Net working capital will increase by $1.06 million at the beginning of the project and will be recovered at the end. The new diet drink will produce revenues of $9.45 million per year and cost $2.42 million per year over the 10-year life of the project. Marketing estimates 20.00% of the buyers of the diet drink will be people who will switch from the regular drink. The marginal tax rate is 27.00% The WACC is 13.00%. Find the NPV (net present value). Submit Answer format: Currency: Round to 2 decimal places