Over the last twenty years there has been considerable consolidation in the confectionary business$($e$.$g$.,$ the acquisition of Rowntree PLC by Nestle SA in $1988$ and Cadbury by Kraft in$2010).$ You have a suspicion that a large food manufacturer might try to buy Tootsie Roll. You want to calculate a DCF valuation for Tootsie Roll. The first step in your valuation is to calculate Tootsie$$ Roll's weighted average cost of capital. Using the data provided$$ below, answer the questions that follow and calculate Tootsie$$ Roll's WACC.

The$$ risk$-$free rate is $4\mathrm{.}5\%.$

The expected return on the market portfolio is $9\mathrm{.}25\%.$

The corporate tax rate is $42\%.$

The face value of Tootsie$$ Roll's outstanding bonds is $$$$2,450$ million.

The coupon rate on Tootsie$$ Roll's bonds is $4\mathrm{.}5\%.$ Assume that the bonds pay annual coupons.

The yield to maturity on Tootsie$$ Roll's bonds is $6\mathrm{.}5\%.$

Tootsie$$ Roll's bonds mature in $14$ years.

Tootsie Roll has $1,700$ million common shares outstanding.

The market price of Tootsie$$ Roll's common shares is $$$$6\mathrm{.}20.$

Tootsie$$ Roll's Beta is $0\mathrm{.}7.$

What is Tootsie$$ Roll's after$-$tax cost of$$ debt?$\_\_\_\_$ percent. $($Round to two decimal$$ places.$)$

Flag question: Question $5$

Question $512$ pts

Tootsie$$ Roll's cost of$$ equity is $\_\_\_\_\_\_\_$ percent. $($Round to two decimal$$ places.$)$

$7\mathrm{.}83$

Flag question: Question $6$

Question $614$ pts

The market value of$$ long$-$term debt is $$\_\_\_\_\_\_\_\_\_\_\_$ million. $($Round to two decimal$$ places.$)$

Flag question: Question $7$

Question $712$ pts

The capital structure weight for$$ equity is $\_\_\_\_\_\_\_$ percent. $($Round to two decimal$$ places.$)$

Flag question: Question $8$

Question $814$ pts

Tootsie$$ Roll's WACC is$\_\_\_\_\_\_\_$ percent. $($Round to two decimal$$ places.$)$