Book Co has 1,5 million shares of common equity with a par (book) value of $1.20, retained earnings of $28.4 milion, and its shares have a market value of $50.59 per share. It also has debt with a par value of $20.9 million that is trading at 105% of par a. What is the market value of its equity? b. What is the market value of its debt? c. What weights should it use in computing its WACC? a. What is the market value of its equity? The market value of the equity is million (Round to two decimal places) Laurel, Inc., has debt outstanding with a coupon rate of 5.8% and a yield to maturity of 7.2%. Its tax rate is 35%. What is Laurel's effective (after-tax) cost of debt? NOTE. Assume that the debt has annual coupons and that the firm will always be able to utilize its full interest tax shield. The effective after-tax cost of debt in % (Round to four decimal places.)