Answers are there just need how to do it.

1. Lincoln Products is planning next year's capital budget. Lincoln projects net income of $92,857.14, and its dividend payout ratio is 30 percent. The company's earnings and dividends are growing at a constant rate of 12 percent. The last dividend, Do, was $1.20; and its stock currently sells at a price of $18.30 per share. Lincoln can raise debt at an 8.5 percent before-tax cost. If the firm issues new common stock, a 10 percent flotation cost will be incurred. Lincoln is at its optimal capital structure, which is 25 percent debt and 75 percent equity. The firm's marginal tax rate is 21 percent. Calculate WACC1, WACC2, and the break point. Graph the MCC schedule. Ans with 21% tax rate: 16.18%, 16.80%, $86,667 Ans with 40% tax rate: 15.78%, 16.40%, $86,667