QUESTION 19 The Bellevue firm will issue preferred stock. If the shares will sell for $57 and pay dividends of $1.7, the firm's cost of preferred will be_% Answer to two decimal places and no % sign. QUESTION 20 Redmond Incorporated with a tax rate of 26% and a weighted average cost of capital of 11.3%, is looking at a project that requires an outlay of $150,000 for equipment at + = 0, that is to be depreciated straight-line (33.33% per year) over a three-year period, and not expected to have salvage value after three years. It also requires an expenditure for $30,000 working capital which can be recovered in year three. There is an expectation that the project will bring in an additional $140,000 revenue with additional operating costs, not including depreciation) of $60,000 every year for the next three years. What is the net present value of this project? Answer to the nearest dollar and no $ sign