Hankins, Inc, is considering a project that will result in innial attertax cash savings of $5,7 million at the end of the first year, and these savings will grow at a rate of 3 percent per year indetinitely The tirm has a 56, a cost of equity of 13.1 percent, and an atertax cost of debt of 5 percent. The cost-saving proposal is somewhat riskier than the usual project the firm undertakes, management uses the subjective approach and applies an adjustment factor of +2 percent to the cost of capital for such risky projects. target debt-equity ratio of Calculate the WACC. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, .g., 32.16.) WACC What is the maximum cost the company would be willing to pay for this project? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g, 32.18.) Present value eBook & Resources e5ook 12 4 The weignted Average Cost ot capatal Check my work