Problem 10 Intro Idaho Engineering Inc. has a target capital structure of 34% debt, 10% preferred stock and 56% common stock. The interest rate on new debt is 5.5% (before taxes), the yield on preferred stock is 8% and the cost of retained earnings is 9%. The firm will not be issuing any new stock, and the tax rate is 37%. Attempt 1/5 for 5 pts. Part 1 What is the company's weighted average cost of capital? 3+ decimals Submit