5. Following information applies to NIKI Corp. Total Assets: $900.000 Debt: $300,000 Preferred Stock: $200,000 Common Stock: $400,000 Company is in the 35% tax bracket It is paying 8% interest on its debt New Preferred Stock has a market value of $30, a dividend of $2 per share and flotation cost of $1 per share Price of Common Stock is $40, expected dividend is $2 per share and a growth rate is 4% What is the Weighted Average Cost of Capital? (show all work)