Currently bonds with a similar credit rating and maturity as the firm's outstanding debt are selling to yield 7.91 percent while the borrowing firm's corporate tax rate is 34 percent.

b.Common stock for a firm that paid a $1.05 dividend last year. The dividends are expected to grow at a rate of 4.9 percent per year into the foreseeable future. The price of this stock is now$24.26.

c.A bond that has a $1,000 par value and a coupon interest rate of 12.6 percent with interest paid semiannually. A new issue would sell for $1,148 per bond and mature in 20 years. The firm's tax rate is 34 percent.

d.A preferred stock paying a dividend of 7.3 percent on a $98 par value. If a new issue is offered, the shares would sell for $86.33 per share.

I just need help with C I can't figure out how to get PMT to put in a formula in excel.