Ms. Morrison wants you to use the weighted average bond yield for your required return. The total market value of debt PCH is expected to have going into this investment is $200M, which includes the current amount of bonds on the financial statements of $150M at a 6% interest rate and a planned new debt issuance of $50M at a higher 8% rate. All long-term debt is in the form of bonds. Ignore income tax effects when calculating the required return (i.e., do not take the after-tax cost of debt). Use current interest rates as a proxy for bond yield.