For a firm with outstanding preferred stock and common stock, which of the following statements is TRUE regarding the firm's WACC? Statement : The cost of preferred stock is equal to the current price of preferred stock divided by the preferred dividend. Statement II: The market value, not the book value of the firm's common stock should be used to compute the WACC. Statement A firm's cost of preferred stock will usually be higher than the firm's cost of common stock IIT: Statement III only Statement II only Statements I, II and III Statement I only Statements I and II only QUESTION 8 Consider a cash flow stream that includes $300 one year from today, $300 two years from today, and $500 three years from today. What is the present value of this cash flow stream if the appropriate discount rate is 124. Round your answer to the nearest dollar (whole number). $912 None of the other answer choices are correct $863 $952 $1,100