3. Using the existing capital structure, expressed in terms of market value as opposed to book value, determine the firm's weighted cost of capital as of January 1, 2004, at the projected 2004 investment level. Assume that (a) the existing capital committed to marketable securities is a viable source of internal funds, (b) the book values for credit and all notes closely reflect the current market value of such forms of indebtedness, (c) no implicit costs exist for trade credit and all trade discounts are taken, and (d) the company tax rate is 40 percent