Chen Chocolate Company$$s EPS in $2020$ was $$1\mathrm{.}80,$ and in $2015$ it was $$1\mathrm{.}25.$ The company$$s payout ratio is $60\%,$ and the stock is currently valued at $$37\mathrm{.}75.$ Flotation costs for new equity will be $12\%.$ Net income in $2021$ is expected to be $$20$ million.

The company$$s investment banker estimates that it could sell $15-$year semiannual bonds with a coupon rate of $6\mathrm{.}5\%.$ The face value would be $$1,000$ and the flotation costs for a bond issue would be $1\%.$ The market$-$value weights of the firm$$s debt and equity are $30\%$ and $70\%,$ respectively. The firm faces a $25\%$ tax rate.

Create a scatter chart that shows the firm$$s marginal WACC as a step function. The x$-$axis should go to at least $$20$ million. Be sure to fully label the chart, including a data label with leader lines that shows the value of the break$-$point.