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Please show work. Nike, Inc (NKE) has a CAPM beta of 1.18. The market risk premium is 5.5%, and the risk-free rate of interest is

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Nike, Inc (NKE) has a CAPM beta of 1.18. The market risk premium is 5.5%, and the risk-free rate of interest is 3.4%. Nike's preferred stock pays a dividend of $3 each year and trades at $37.5 per share. The coupon rate and the yield to maturity of Nike's debt are 5.25% and 6.00%, respectively. If Nikes capital structure consists of 70% common stock, 10% preferred stock, and 20% debt, what is Nike's weighted average cost of capital if its tax rate is 25%?

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