both 28 and 29 please

A company's balance sheets show a total of $30 million long-term debt with a coupon rate of 10 percent. The yield to maturity on this debt is 9.38 percent, and the debt has a total current market value of $30 million. The balance sheets also show that that the company has 10 million shares of stock; the total of common stock and retained earnings is $30 million. The current stock price is $7.5 per share. The current return required by stockholders, rs, is 13 percent. The company has a target capital structure of 40 percent debt and 60 percent equity. The tax rate is 30%. What weighted average cost of capital should you use to evaluate potential projects? Express your answer in percentage (without the \% sign) and round it to two decimal places. Your Answer: Answer Question 29 (4 points) Midland Corporation is estimating its WACC. Its bonds have a 7.3 percent coupon, paid semiannually, a current maturity of 20 years, and sell for the parvalue, $1,000. The firm's marginal tax rate is 22 percent. What is Midland's after-tax cost of debt? Express your answer in percentage (without the % sign) and round it to two decimal places. Your