I hope it is not handwritten

[Information (D) The manager of ABC hopes that the newly issued bond is traded as "Par bond" in the market. To do that, the manager of ABC asks S\&P (the credit rating agency) about the new bond's condition. S\&P recommends the following conditions: Par value: $1,000 / Coupon rate: 10% / Annual-coupon payment [Information (2)] Considering the current credit rating on ABC, the manager can use bank loans at 9% of before-tax costs. [Information (3)] The common stock of ABC is currently trading at $20 per share. ABC will pay a dividend of $2 per share at the end of the year (on December 31, 2022). [Information (4)] In recent years, ABC's profits and dividends have grown at an average annual rate of 5%, and this growth rate is expected to continue forever. [ Information (5) ] Tax rate =40% 23. Assuming that there is no flotation cost (or issuance cost), what is the minimum (possible) \% of WACC for ABC? A) 5.4% B) 6.0% C) 7.7% D) 102% 24. Assuming that there is no flotation cost (or issuance cost), what is the maximum (possible) \% of WACC for ABC? A) 8.0% B) 10.5% C) 12.5% D) 15.0% 10/16 25. Suppose that the manager of ABC can only raise capital through stock and/or bond issuances. In this case, the flotation cost of equity and debt are 5% and 3%, respectively. Then, what would be the minimum present value of the future (expected) cash flows from this long-term investment, if the manager decides to accept this investment? A) 548 million B) $49.5 million C) $50 million D) $50.5 million