4. Baba Rafi's bonds will be sold 10-year bonds paying 5% coupon per year at the market price of $1060 (firm's tax rate is 40%). Per value would be $1000 for the bonds. Preferred stock paying a $2 dividend can be sold for $30. Common stock for is currently selling for $50 per share. The firm paid a $4 dividend last year and expects dividends to continue growing at a rate of 10% per year. Flotation costs of issuing new common stock will be $6 per share. Calculate the WACC of BR? (8 Marks) Please use the following info to calculate the weight, which you'll need to calculate the WACC. To fund the purchase of the equipment along with few other outlays of equal risk, Baba Rafi is thinking about raising $1.2 million through the issuance of $550,000 worth of common stock, $200,000 preferred stock and the rest with long-term bonds