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ABC Inc. has a the capital structure shown below. ABC Inc. will raise additional capital for new projects this year, in the amount of $44,971,902. The firm believes, however, that a capital structure with 57.8% debt is ideal and will seek to implement that change when they raise capital. Currently, the firm has a beta of 1.5 . The risk-free rate is at 3%, and the market risk premium is currently 8%. The company will issue bonds with a par value of $1,000. The bonds will sold with coupon payments of $40, each paid on a semi-annual basis. They will be sold at par and have a maturity of 11. ABC Inc. expects to pay 5% on their state taxes, and 18% on their federal taxes. What should the firm estimate as its new weighted average cost of capital