BN Unicorn Co. common stock has a beta of 1.64 and is expected to pay a $2.34 dividend over the next year. The dividend is expected to grow at the constant rate of 5% per year. The risk-free rate is 1.38% and the return on the market index is 7.38%. What is the cost of new equity to the firm, in %, to the nearest 0.01%, if the flotation costs of issuing it are 4%? (Drop the % symbol.)

Before-tax cost of debt for a company is 5.31%, while the after-tax cost of debt is 4.35%. What is the company's tax rate, in %, to the nearest percent? (Drop the % symbol when recording the answer.)

The risk-free rate of return is 1.3% and the expected return on the market portfolio is 7.4%. Oklahoma Oilco has a beta of 1.5 and a standard deviation of returns of 21.1%. Oilco's marginal tax rate is 23%. Analysts expect Oilco's net income to grow by 3% per year in the foreseeable future. Flotation costs of issuing new common stock are 2.8%. Using the capital asset pricing model, what is Oklahoma Oilco's cost of retained earnings, in %? Drop the % symbol. E.g., if your answer is 10.23%, record it as 10.23.

A firm's total assets are $1103 mln. The firm funds the assets with $253 mln of debt, $115 mln. of preferred stock, and the remainder with common equity. What is the firm's WACC if its pre-tax cost of debt is 5.6%, cost of preferred stock is 7.8%, cost of common equity is 13.7%, and the tax rate is 17%? Express your answer in %, to the nearest 0.01%; drop the % symbol.

JPR Company is financed 78 percent by equity, with the remaining financing coming from debt. If the firm earns $34 million in net income next year and retains 55% of it, how large can the capital budget be before new common stock must be sold, to the nearest $0.01 million? E.g., if your answer is $23.275 mln., record it as 23.28.