Growth$$ Company's current share price is $ $19\mathrm{.}90$$$19\mathrm{.}90,$ and it is expected to pay a $$1\mathrm{.}30$ dividend per share next year. After$$ that, the$$ firm's dividends are expected to grow at a rate of $3\mathrm{.}6\%$ per year.

a$.$ What is an estimate of Growth$$ Company's cost of$$ equity?

b$.$ Growth Company also has preferred stock outstanding that pays a $ $2\mathrm{.}20$$$2\mathrm{.}20$ per share fixed dividend. If this stock is currently priced at $ $28\mathrm{.}25,$ what is Growth$$ Company's cost of preferred$$ stock?

c$.$ Growth Company has existing debt issued three years ago with a coupon rate of $6\mathrm{.}4\%6\mathrm{.}4\%.$ The firm just issued new debt at par with a coupon rate of $6\mathrm{.}6\%6\mathrm{.}6\%.$ What is Growth$$ Company's cost of$$ debt?

d$.$ Growth Company has $4\mathrm{.}54\mathrm{.}5$ million common shares outstanding and $1\mathrm{.}21\mathrm{.}2$ million preferred shares$$ outstanding, and its equity has a total book value of $ $49\mathrm{.}9$$$49\mathrm{.}9$ million. Its liabilities have a market value of $ $20\mathrm{.}3$$$20\mathrm{.}3$ million. If Growth$$ Company's common and preferred shares are priced at $ $19\mathrm{.}90$$$19\mathrm{.}90$ and $ $28\mathrm{.}25$$$28\mathrm{.}25,$respectively$,$ what is the market value of Growth$$ Company's assets?

e$.$ Growth Company faces a $40\%40\%$ tax rate. Given the information in parts a through d and your answers to those$$ problems, what is Growth$$ Company's WACC?

$$Note: Assume that the firm will always be able to utilize its full interest tax shield.