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6. 6: The Cost of Capital: Weighted Average Cost of Capital The firm's target capital structure is the mix of debt, preferred stock, and common equity the firm pians to ralse funds for its future projects. The target proportions of debt preferred stock, and common equity, along with the cost of these components, are used to calculate the firm's weighted sversge cost of capital (wacc). If the firm will not have to issue new common stock, then the cost of retained earnings is used in the firm's WacC calculation, However, if the firm wilf have to issue new common stock, the cost of niew common stock should be used in the firm's WACC calculation. Quantitative Problem: Barton Industries expects that its target copltal structure for ralsing funds in the future for its capital budget witt consist of 40% debe, 5% preferred stock, and 55% common equity. Note that the firm's marginal tax rate is 25%. Assume that the firm's cost of debt, rd, is 9.4%, the firm's cost of preferred stock, fo. is 8.65 and the firm's cost of equity is 12.0% for old equity, fot and 12.4% for niew equity, r. What is the firm's weighted average cost of capatal (Wacci) it it uses retained esenings at its sourot of common equity? Do not round intermediste calculations. Round your answer to two decimal places. What is the firm's weighted average cost of capital (WACC) if it has to issue new common stock Do not round intermediate calculations. Round your antraer to two decimul plocet