Consider the after-tax cash flows below from a project that is being considered by Despondus Corportation. Since the project is an extension of the firm's current business, it carries the same risk as the overall firm.

YEAR	-251,000	94000	65000	112000	94000	104000
CASH FLOWS	0	1	2	3	4	5

Despondus Corporation's common stock is currently priced at $44.62, and there are 684,000,000 shares outstanding. A dividend of $3.73 per share was just paid and dividends are expected to grow at a constant rate of 5.87% per year. The company has 7,300,000 bonds outstanding that mature in 10 years and are currently prices at 1,015 per bond. The coupon rate is 14.48%, and the bonds make semiannual interest payments. The company's tax rate is 34%.

What is Despondus Corporation's weighted average cost of capital (WACC)?

Correct Answer:

14.698510% x .804651 + 9.368486% x .195349 = 13.66%

MY QUESTION: Where did they get these numbers to solve for this equation. I do not understand how to solve for this.