Owens Enterprises is in the process of determining its capital budget for the next fiscal year. The firm's current capital structure, which it considers to be optimal, is contained in the following balance sheet: Balance Sheet Accounts payable $ 16,000,000 Current assets $ 42,000,000 Fixed assets 378,000,000 Other current liabilities 14,000,000 Total assets 420,000,000 Long-term debt 97,500,000 Common stock at par 16,500,000 Paid in capital in excess of par 50,000,000 Retained earnings 226,000,000 Total liabilities and stockholders' equity 420,000,000 Through discussions with the firm's investment bankers, lead bank, and financial officers, the following information has been obtained: The firm expects net income from this year to total $90 million. The firm intends to maintain its dividend policy of paying 32.5 percent of earnings to stockholders. The firm can borrow $12.75 million from its bank at a 12 annual rate. Any additional debt can be obtained through the issuance of debentures (at par) that carry a 14 percent coupon rate. The firm currently pays $3.7 per share in dividends (Do). Dividends have grown at a 4 percent rate in the past. This growth is expected to continue. The firm's common stock currently trades at $46 per share. If the firm were to raise any external equity, the newly issued shares would net the company $43 per share. The firm is in the 40 percent marginal tax bracket. Compute Owens' marginal cost of capital schedule. Round your answers to two decimal places. Weighted marginal cost of capital First increment: % Second increment: % Additional funds: %