A company wants to raise $15 million to fund a project. The company estimates the issue costs including the legal and accounting fees will be $641,000. The underwriters have set the stock price at $29.10 per share and the underwriting spread at 10.42%. How many common shares does the company have to sell to meet its cash need? 600,013 615,013 630,013 645,014 660,014 A company has a target debt-to-equity ratio of 1.25. Its WACC is 8.82%, and the tax rate is 24%. If the company's cost of equity is 15.02%, what is its pre-tax cost of debt? 4.57% 4.70% 4.83% 4.95% 5.08%