a) Given the following information of Tai Tai Wok Company, find the company's WACC. Market: Common stock: Preferred stock: Debt: 5% market risk premium and 6% risk-free rate. The company's tax rate is 30%. 120,000 shares outstanding; book value for $40 per share; currently selling for $50 per share; beta is 1.4. 10,000 shares of 5.5% preferred stock outstanding; book value is $100 per share; currently selling for $80 per share 6,000 8% coupon bonds outstanding, 12 years to maturity, selling at face value and the bonds make semi-annual coupon payments. b) If Tai Tai wok Company encountered a project that has an expected return 8%. Given that the project's risk is similar to the company's business; should the company take this project? Explain your