please show work and complete all 3 parts. thank you!

7. (15 Percent) Faster Engineering Inc. (FEI) has the following capital structure, which it considers to be optimal: FEI's expected net income this year is $34,285.72, its established dividend payout ratio is 30%, its federal-plus-state tax rate is 25%, and investors expect future earnings and dividends to grow at a constant rate of 7.5%. LEI paid a dividend of $4.20 per share last year, and its stock currently sells for $54.00 per share. FEI can obtain new capital in the following ways: (1) New preferred stock with a dividend of $12.00 can be sold to the public at a price of $80.00 per share. (2)Debt can be sold at an interest rate of 11%. a. Determine the cost of each capital component. b. Calculate the WACC