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.

a$.$ What is the firm's market value capital structure? $($Do not round intermediate

calculations and round your answers to $4$ decimal places, e$.$g$.,1616.)$

b$.$ 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? $($Do not round intermediate calculations and enter your answer as a percent

rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$