Lingenburger Cheese Corporation has $6\mathrm{.}4$ million$$shares of common stock outstanding, $200,000$ shares of $3\mathrm{.}8$ percent preferred stock$$outstanding$,$ par value of $$100,$ and $120,000$ bonds with a semiannual coupon of$4\mathrm{.}8$ percent outstanding, par value $$1,000$ each. The common stock currently sells for$$$$54$ per share and has a beta of $1\mathrm{.}08,$ the preferred stock currently sells for $$103$ per$$share$,$ and the bonds have $15$ years to maturity and sell for $107$ percent of par. The$$market risk premium is $7\mathrm{.}5$ percent, T$-$bills are yielding $2\mathrm{.}4$ percent, and the company$$s$$tax rate is $22$ percent.$$What is the firm$$s market value capital structure?$$If the company is evaluating a new investment project that has the same risk as the$$firm$$s typical project, what rate should the firm use to discount the project$$s cash$$flows$?$