Question 2 Man Company has a capital structure made up of 40% debt and 60% equity and a taxta A new issuance of bonds maturing in 20 years can be distributed with a coupon rate of 9% a RM1.098.18 with no flotation costs. The firm has no internal equity available for investment at da tax rate of 25%. of 9% at a price of Scanned with CamScanner { 329 but can issue issue new common stocks at a price of RM45. The next expected dividend on the stock is The dividend for Man Company is expected to grow at a constant annual rate of 5% per year Iv. Flotation costs on new equity will be RM7 per share. The company has the following endent investment projects available: indefinitely. Flot: independenti Project IRR Initial Outlay RM100,000 RM 10,000 R M 50,000 3 10% 8.5% 12.5% Required: hich of the above projects should the company undertake