Calculation of individual costs and WACC Carnival Corporation (CCL) recently sold new bonds at discount price of $943.69. The bonds have a short 6 -year maturity, have a coupon rate of 8.50%, and pay interest semi-annually. In addition to the $9.265 billion worth of bonds outstanding, Carnival also has $11.718 billion worth of common stock equity outstanding. According to Yahoo! Finance, Carnival's stock has a beta of 1.77 . Currently, the expected return on the market portfolio and risk-free rate are, 5.90% and 0.64%, respectively. a. Calculate the market value weights for Carnival's capital structure. b. Calculate Carnival's cost of equity using the CAPM. c. Calculate Carnival's before-tax cost of debt. d. Calculate Carnival's current WACC using a 21% corporate tax rate