please explain all answers! No-No Bad Dog (NNBD) Training School wants to maintain its current capital structure of 50% common equity, 25 % preferred stock, and 25 % debt. Its cost of common equity is 11%, shares of the companies preferred stock are currently paying dividends of 2.50 and are expected to do so in the future, flotation cost is $5/share and current market price is $30/share. The cost of issuing new common stock is 15.6%. The bank charges an annual rate of interest of 9% for amounts borrowed that are less than or equal to $1 million, and 12% for amounts between $1 million and $2 million. If more than $2 million is borrowed, they charge a 16% annual rate of interest. No-No's tax rate is 25%. The firm expects to net $5,255,000 in income after paying preferred dividends this year. How many total break points does this No-No Bad Dog have (both debt and equity)? A) 1 B) 2 C) 3 D) 4 How much total capital can NNBD raise before reaching their equity break point? A) $4,000,000 B) $5,255,000 C) $8,000,000 D) $10,510,000 What is NNBD's WACC if they finance with retained earnings and borrow $900,000? A) 5.85% B) 9.00% C) 9.46 % D) 12.10%