Kuhn Co. is considering a new project that will require an initial investment of $45 million. It has a target capital structure of 45% debt, 4% preferred stock, and 51% common equity. Kuhn has noncallable bonds outstanding that mature in five years with a face value of $1,000, an annual coupon rate of 10%, and a market price of $1,050.76. The yield or 14.88% any's current bonds is a good approximation of the yield on any new bonds that it issues. The company can sell shares of preferred stock an annual dividend of $9 at a price of $92.25 per share. 12.40% Kuhn does not have any retained earnings available to 13.02% common stock is currently selling for $33.35 per share represent 3% of the funds raised by issuing new comr rate of 25%. What will be the WACC for this project? 11.78% is project, so the firm will have to issue new common stock to help fund it. Its expected to pay a dividend of $2.78 at the end of next year. Flotation costs will The company is projected to grow at a constant rate of 9.2%, and they face a tax (Note: Round your intermediate calculations to two decimal places.) Grade It Now Save & Continue