Raymond Mining Corporation has 9.8 million shares of common stock outstanding, 420,000 shares of 5 dollar preferred stock outstanding, and 169,000 7.5 percent semiannual bonds outstanding, par value $1,000 each. The common stock currently sells for $46 per share and has a beta of 1.40, the preferred stock currently sells for $95 per share, and the bonds have 15 years to maturity and sell for 117 percent of par. The market risk premium is 8.6 percent, T-bills are yielding 4 percent, and Adex Minings tax rate is 40 percent.

a.	What is the firms market value capital structure? (Round your final answers to 4 decimal places. (e.g., 32.1616))

	Market value
Debt
Preferred stock
Equity

b.	If Raymond Mining is evaluating a new investment project that has the same risk as the firms typical project, what rate should the firm use to discount the projects cash flows?