In Financial Management by Brigham and Ehrhardt, the answer for problem 9-16 given in the back of the book reflects a short-term debt of 11.14%, a long-term debt of 22.03%, and a common equity of 66.83%, however the solution shown for this problem is completely different. How do you calculate these percentages using a financial calculator?

c. Suppose now that there is not enough internal cash flow and the firm must issue new shares of stock. Qualitatively speaking, what will happen to the WACC?No numbers are required to answer this question. Suppose the Schoof Company has this book value balance sheet: (9-16) Market Value Capital Structure Current assets $ 30,000,000 Fixed assets 70,000,000 Current liabilities $ 20,000,000 Notes payable $ 10,000,000 Long-term debt 30,000,000 Common stock (1 million shares). 1,000,000 Retained earnings 39,000,000 Total liabilities and equity $100,000,000 Total assets $100,000,000 The notes payable are to banks, and the interest rate on this debt is 10%, the same as the rate on new bank loans. These bank loans are not used for seasonal financing but instead are part of the company's permanent capital structure. The long-term debt consists of 30,000 bonds, each with a par value of $1,000, an annual coupon interest rate of 6%, and a 20-year maturity. The going rate of interest on new long-term debt, ras is 10%, and this is the present yield to maturity on the bonds. The common stock sells at a price of $60 per share. Calculate the firm's market value capital structure. The table below gives the balance sheet for Travellers Inn Inc. (TII), a company that was formed by merging a number of regional motel chains. Travellers Inn: December 31, 2013 (Millions of Dollars) Cash $ 10 Accounts payable $ 10 (9-17) WACC Estimation