Below are all my calculations for the following problem. I don't think WCC1 and WCC2 are correct. Can you please explain why they are or they are not correct?

WCC1=10.43%

WCC2=11.08%

Breakpoint= $150,943,396.23

A company has a semi-annual bond outstanding which is priced at $925.63 and which has the following characteristics: Maturity in 11 years and coupon rate is 6.25%. It wants to issue a new semi-annual bond with a term of 14 years.

It also has preferred stock outstanding, which are priced at $61 and pay $6.75 dividend.

Finally, the common stock is priced at $25, which is expected to have a next dividend of $2.76. The dividend is expected to grow at 6%. Historically the market return has been 11.25% and the T-bill rate 5%, while the beta of the firm is 1.15.

Flotation cost equals $40 for the bonds, 6% for preferred stock and 10% for common stock. The target capital structure is 4.5% preferred stock, 42.5% debt, and the rest equity, while the company has $80,000,000 in retained earnings. The tax rate of the firm is 20%.