DOVU Check my work mode : This shows what is correct or incorrect for the work you have comp Cully Company needs to raise $45 million to start a new project and will raise the money by selling new bonds. The company will generate no internal equity for the foreseeable future. The company has a target capital structure of -60 percent common stock, 5 percent preferred stock, and 35 percent debt. Flotation costs for issuing new common stock are 7 percent, for new preferred stock. 4 percent, and for new debt, 2 percent. What is the true initial cost figure the company should use when evaluating its project? (Do not round intermediate calculations and enter your answer in dollars, not millions. rounded to the nearest whole dollar amount, e.g., 1.234,567.) :02 Answer is complete but not entirely correct. Initial cost 47 447,437 s