Apple has debt, common stock, and preferred stock. Their bonds are selling for $1050, pay coupons of 6% annually, and have 5 years remaining to maturity, at which time the bonds will repay investors $1,000. There are 500,000 bonds outstanding in the marketplace. Their preferred stock has a par value of $100, and are selling for $80, and pay a $3 dividend twice a year. There are five million shares of preferred stock outstanding. Their common stock (there are thirty-three million shares outstanding) is selling for $30 per share, and just paid an annual dividend of $4. Apple 's beta is 0.85. The risk-free rate is 3% and the expected return of the SP500 is 8%. According to the companys balance sheet, Apple finances the company using a mix of 20% debt, 70% common stock, and 10% preferred stock. Their tax rate is 40%. What is Apple's:

a. Cost of debt (after-tax):

b. Cost of preferred stock:

c. Cost of common stock:

d. Weighted average cost of capital: