2) Willerton Industries Inc. has the following balances in its capital accounts as of 12/31/X3:

Long-term debt	$65000000
Preferred stock	15000000
Common stock	40000000
Paid in excess	5000000
Retained earnings	32500000

Company's long-term debt is comprised of 20-year $1000 face value bonds issued 7 years ago at an 8% coupon rate. The bonds are now selling to yield 6%. Willerton's preferred is from a single issue of $100 par value, 9% preferred stock that is now selling to yield 8%. Willerton has 4 million shares of common stock outstanding at a current market price of $29. Calculate Willerton's market value based capital structure. Assume that the coupon payments are semi-annual. Round the market values to the nearest dollar and the weights to two decimal places of percentage. Do not round your intermediate calculations.

	Market Value	Weight
Debt	$ fill in the blank 1	fill in the blank 2%
Preferred stock	fill in the blank 3	fill in the blank 4%
Equity	fill in the blank 5	fill in the blank 6%
	$ fill in the blank 7	fill in the blank 8%

3) Asbury Corp. issued 30-year bonds 11 years ago with a coupon rate of 9.5%. Those bonds are now selling to yield 7%. The firm also issued some 20-year bonds 2 years ago with an 7.5% coupon rate. The two bond issues are rated equally by Standard and Poors and Moody's. Asbury's marginal tax rate is 32%. Assume face value of the bonds is $1,000. Assume that the coupon payments are semi-annual.

1. What is Asbury's after-tax cost of debt? Round the answer to two decimal places. __%
2. What is the current selling price of the 20-year bonds? Round the answer to the nearest cent. $___