A CFO is analyzing the costs of raising $25,000,000. She knows the flotation costs of equity are 8% while the floatation costs of debt are 2%. The capital structure of her company is 60% debt and 40% equity. How much more in capital does she need to raise above the $25,000,000 when factoring in the appropriate mix of floatation costs?

• $3,546,953

• $3,328,962

• $2,366,469

• $1,150,628

• $4,263,498