Consider the case of Kuhn Co. Kutin Co. is considering a new project that will require an initial investment of $20 malion, ft has a target capital structure of 58% debe, 6% preferred stock, and 36% common equity. Kuhn has noncallable bonds cutstanding that mature in 15 years with a face value of th, 000, an annual cospan rote of 11%, and a market price of $1,555.38. The yield on the company's current bonds is a good approximstion of the yeid on any new boods that it issues. The company can sell shares of preferred stock that pay an annual dividend of $9 at a price of $95.70 per share. Tou can assume that licrian does not incur any flotation costs when issuing debt and preferred stock. Kuhn does not have any retained earnings avaliable to finance this project, se the firm will have to issue new common stock to help fund it fas common stock is currently selling for $22.35 per share, and it is expected to pay a dividend of $1.36 at the end of next year flotaton casts wil represent 3% of the funds raised by issuing new common stock. The company is projected to grow at a constant rate of 8.74, and ther face a tax rate of 40%. Determine what Kuhn Company's wacc will be for this project