Given the following information for Power Co, find the WACC. Assume the company's tax rate 21% and cost of preferred stock 4.57%. This company has the possibility to invest in a project that will generate 1 millions $ in after tax savings and these savings will grow at a rate 1.5% per year indefinitely. How much should this project cost in order this company take on the project considering that this project is +2 point riskier to the normal cost of capital of this company? Debt: 16,0006.2 percent coupon bonds outstanding. $1,000 par value, 25 years to maturity, selling for 108 percent of par, the bonds make semiannual payments. Common stock: $35,000 shares outstanding, selling for $1 per share: beta is 1.20 . 20.000 shares of 4.2 percent preferred stock Preferred stock: outstanding, currently selling for $92 per share. The par value is $100. Market: 7 percent market risk premium and 3.1 percent risk-free rate