Lee Corp. finances its $$120$ million project with the following information on its capital structure composing of long$-$term debt, preferred stocks, and common stocks $-$

$--15-$year A$-$rated $9\%$ coupon bonds, which pay monthly coupons with a price

quote of $105\mathrm{.}0,$ for a total par value of $$55$ million

$--$ Three million shares of common stock, which is fairly priced at $$16\mathrm{.}0$ per share.

The stock just paid a dividend of $$0\mathrm{.}80$ per share, and will grow at an annual rate of $6\%$ indefinitely.

$--$ Its preferred stock has a $7\%$ annual dividend rate on a par value of $$15,$ and is

priced at $$16$ per share.

$($a$)$ Compute the yield to maturity and current yield of the discount$/$par$/$premium $($circle the correct choice$)$ bond issued by Lee Corp. Based on the information about the bond, state TWO different features that support your choice of the bond type.

$($b$)$ Compute the WACC for Lee Corp., assuming that the marginal tax rate is $21\%.$

$($c$)$ The flotation costs for raising new debt capital, preferred stock capital and common equity capital are, respectively, $4\%,7\%$ and $16\%.$ Assume that three$-$fifth of common equity capital is internally financed and the NPV of the project is $$8$ million without adjusted for flotation costs. Compute the $($i$)$ weighted average flotation cost, and $($ii$)$ adjusted NPV of this project after taking into account of flotation costs. Precisely explain the impact of the acceptance of this project on the value of Lee Corp.