cost of capital (WACC) to use in the discounted cash flow analysis. You spend the morning gathering the following information: - Budget Wings has preferred equity outstanding with a market value of $30 million that offers an annual dividend of $2.91 and is priced at $48.50 per share. - Budget Wings pays corporate taxes at a rate of 35%. Based upon this information, Budget Wings' current weighted average cost of capital (WACC) is closest to which of the following? A. 6.97% B. 6.24% C. 6.64% D. 5.14% E. 18.80%