Calculate the WACC for PG given the following: The company has outstanding debt that matures in $15$ years that has a coupon of $4\%.$ It pays interest semi$-$annually and the bonds are callable in $3$ years at a $5\%$ premium to par. The current price of the bonds is $950.$ For a reference $15-$year Treasuries are yielding $4\%.($PG bonds are rated AA$)$ PG has outstanding preferred that have an $8\%$ coupon, $$100$ par value and are currently priced at $$110.$ If new preferred was issued the company would incur flotation costs of $5\%.$ The company$$s stock is currently priced at $$100$ and the expected dividend is $$4\mathrm{.}00.$ That dividend is expected to grow at $3\%$ forever. The beta of PG is $0\mathrm{.}6$ and the RFR and MRP are $3\%$ and $7\%$ respectively. Ignore flotation costs for your cost of equity. The target structure is $60\%$ equity, $30\%$ debt and $10\%$ preferred. The tax rate is $40\%.$ If the company had no residual cash and new issued equity would incur a flotation cost of $20\%.$ Calculate anew the WACC using only the DCF method for equity and keeping all other factors the same. Comment on your findings.