Company finance structure is 25% bonds, 10% preferred stock, and 75% common stock, the bonds each have a face value of $1,000, selling at a discount of $35 today with maturity in 10 years, annual coupon interest of 8% and flotation cost of 2 1/2%, companys tax rate is 34%, preferred stock has a 7% annual dividend and par at $100 which can be sold today for $85, underwriters fee for the sale would be $2 per share, new common stock is selling at current price of $45 per share, expected dividend for 2020 is $3.60, dividends have grown at consistent rate (2019 $3.46 2018 3.33 2017 3.2 2016 3.08 2015 2.96), to attract buyers management will underprice shares by $4 and flotation costs will be $2.50 per share, dividend payouts are expected to continue at constant growth, calculate after-tax cost of debt, calculate cost of preferred stock issue, assume rs = rr calculate cost of new common stock issue, using finance structure of the firm, calculate the after-tax WACC