Raymond Mining Corporation has $8\mathrm{.}4$ million shares of common stock outstanding, $280,000$ shares of $6\%$ par value preferred

stock outstanding, and $141,0007\mathrm{.}50\%$ semiannual bonds outstanding, par value $$1,000$ each. The common stock currently sells for $$32$

per share and has a beta of $1\mathrm{.}20,$ the preferred stock currently sells for $$94$ per share, and the bonds have $20$ years to maturity and

sell for $113\%$ of par. The market risk premium is $7\mathrm{.}2\%,$ T$-$bills are yielding $5\%,$ and Raymond Mining's tax rate is $40\%.$

a$.$ What is the firm's market value capital structure? $($Enter your answers in whole dollars.$)$

b$.$ If Raymond Mining is evaluating a new investment project that has the same risk as the firm's typical project, what rate should the

firm use to discount the project's cash flows? $($Do not round intermediate calculations. Enter your answer as a percentage rounded

to $3$ decimal places.$)$

Discount rate

$\%$