Assume the market value of Exxon Mobils equity, preferred stock, and debt are $10 million, $6 million, and $14 million, respectively. The preferred stock outstanding pays a 9% annual dividend and has a par value of $100. The common stock currently has a beta of 1.15, the preferred stock currently sells for $80 per share, and the 10% semiannual bonds have 17 years to maturity and sell for 91% of par. The market risk premium is 11.5%, T-bills are yielding 7.5%, and the firm's tax rate is 32%. What discount rate should the firm apply to a new project's cash flows if the project has the same risk as the firm's typical project?

If you could solve it using the format below and show all of your work that would be awesome!

Weight D/V Market Value # of bonds * price of bonds # of shares of PS outstanding * price of shares lk Component Debt (D) Cost YTM*(1-tax) PS/V Dividend/Price Yield on PS Dividend Preferred Stock (PS) 1) DGM 2) CAPM Common Stock # of shares of Common Stock * Price of shares V- D+PS+E Total (V) V/V-100% Weight D/V Market Value # of bonds * price of bonds # of shares of PS outstanding * price of shares lk Component Debt (D) Cost YTM*(1-tax) PS/V Dividend/Price Yield on PS Dividend Preferred Stock (PS) 1) DGM 2) CAPM Common Stock # of shares of Common Stock * Price of shares V- D+PS+E Total (V) V/V-100%