2. If a company has a capital structure of $5 million common stock with a cost of 17%, $2 million bonds at 4%, $1 million of Short Term Debt with a cost of 7%, and $2 million preferred stock with a cost of 3%, what is the Weighted Average after tax Cost of Capital? The company has a 35% tax rate.

5/10*.17)+2/10*.04(1-.35)+1/10*.07*(1-.35)+2/10*.03=.0.0060

3. If a company has a capital structure of $5 million common stock with a cost of 17%, $2 million bonds at 4%, $1 million of Short Term Debt with a cost of 7%, and $2 million preferred stock with a cost of 3%, what is the Weighted Average after tax Cost of long term debt? The company has a 35% tax rate.

Can someone please check my answer for number 2 and show me how to do number 3?