Miguel Corp has preferred stock outstanding. Each share has a par value of $50, and there is a fixed dividend rate of 8.5% on this stock. Each share of this preferred is currently selling for $55.90. Estimate Miguel Corp's marginal cost of preferred equity based on this information. 15.2% 16.10% 7.60% 8.50% Miguel Corp (same as the company in the previous problem) has 7.10% coupon bonds outstanding with a remaining maturity of 15 years. The bonds pay interest semiannually, and are currently selling for $1129 per $1000 of face value. Miguel Corp. faces a marginal tax rate of 30%. Estimate Miguel Corp's pre-tax marginal cost of debt, assuming that Miguel's new debt will also have a 10-year maturity. 2.90% 2.0396 7.10% 5.80% 4,06% Estimate Miguel Corp's post-tax marginal cost of debt. 4.06% 2.13% 1.74% 2.03% 4.97%