Kalahari Conglomerate company needs to raise $55,000,000 to start a new project and will raise the money by selling new bonds. The company has a target capital structure of 65.00% common stock, 5.00% preferred stock, and 30.00% debt. Flotation costs for issuing new common stock are 10.00%, for new preferred stock, 10.00%, and for new debt, 7.00%. What is the true initial cost figure Kalahari should use when evaluating its project?