Here is the condensed 2021 balance sheet for Skye Computer Company (in thousands of dollars): Current assets Net fixed assets Total assets 2021 $1,400 2,600 $4,000 Short-term debt Long-term debt Accounts payable and accruals $ 800 200 1,075 325 775 825 Preferred stock (15,000 shares) Common stock (40,000 shares) Retained earnings Total common equity Total liabilities and equity $1,600 $4,000 Skye's earnings per share last year were $2.65. The common stock sells for $45.00, last year's dividend (D) was $1.65, and a flotation cost of 10% would be required to sell new common stock. Security analysts are projecting that the common dividend will grow at an annual rate of 10%. Skye's preferred stock pays a dividend of $2.75 per share, and its preferred stock sells for $25.00 per share. The firm's before-tax cost of debt is 8%, and its marginal tax rate is 25%. The firm's currently outstanding 8% annual coupon rate, long-term debt sells at par value. The market risk premium is 6%, the risk-free rate is 7%, and Skye's beta is 1.624. The firm's total debt, which is the sum of the company's short-term debt and long-term debt, equals $1.275 million. The data has been collected in the Microsoft Excel file below. Download the spreadsheet and perform the required analysis to answer the questions below. Do not round intermediate calculations. Round your answers to two decimal places.