Crozier Inc. is thinking about investing in a new project. The balance sheet reports that they currently have $32 million worth of long-term debt and $18 million worth of common equity Their current cost of debt is 5 5%. According to Yahoo Finance com the current required return to Crozier s stock is 12%, the company has 1 5 million shares of stock outstanding and the stock currently trades for $32 per share. If their average tax rate is 34% and they have no preferred stock, what Crozier's weighted average cost of capital? 8.65% 9 40% None of these 6.64 7 84% Bank of America has preferred stock that has an annual dividend of $1.9 If the current price is $25. what is the cost of preferred stock? 13.16% None of these 20.76% 5.56% 7.60%