Lingenburger Cheese Corporation has $7\mathrm{.}3$ million shares of common stock outstanding,

$265,000$ shares of $4\mathrm{.}5$ percent preferred stock outstanding, and $150,000$ bonds with a

semiannual coupon rate of $5\mathrm{.}4$ percent outstanding, par value $$2,000$ each. The

common stock currently sells for $$64$ per share and has a beta of $1\mathrm{.}20,$ the preferred

stock has a par value of $$100$ and currently sells for $$92$ per share, and the bonds have

$16$ years to maturity and sell for $106$ percent of par. The market risk premium is $7\mathrm{.}4$

percent, T$-$bills are yielding $3\mathrm{.}2$ 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 enter your answer as a percent

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