Carnival Corporation (CCL) recently sold new bonds at discount price of $990.00. The bonds have a short 3-year maturity, have a coupon rate of 11.50%, and pay interest semi-annually. In addition to the $10.913 billion worth of bonds outstanding, Carnival also has $11.014 billion worth of common stock equity outstanding. According to Yahoo! Finance, Carnival's stock has a beta of 1.96. Currently, the expected return on the market portfolio and risk-free rate are, 6.80% and 0.38%, 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. a. The market value weight of long-term debt in Carnival's capital structure is %. (Round to two decimal places.)