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1. IBM w 'i ants to determme 1ts WACC today. The firm issued 5000 units of bonds that will mature In 20 years With $l,OOO face value. These bonds pay a 7% coupon rate semiannually and are currently selllng for $910. The firm has 50K preferred shares of stock currently selling at a Price 332 per share. The last preferred and common dividend payments were $3 and $1.5 (DO) per share respectwely. The common stock is selling today for $40. The firm has 80K shares of common stock outstanding. The growth rate of dividend is expected to be 4% indefinitely. The firm's tax rate is 35% Total: 11 points a. Calculate the market value wei hts for each source of capital: debt, preferred stock and new common equity. Points 3 ' b. Calculate the component costs of capital (i.e., cost of debt, preferred equity and new common equity) Points 2+2+2 ' c. Determine the weighted average costs of capital (WACC). Points 2