Saved Help Save & Exit Submit 23 Hartley, Inc. needs to purchase equipment for its 2,000 drive-Ins nationwide. The total cost of the equipment is $2 million. It is estimated that the after-tax cash Inflows from the project will be $210,000 annually in perpetuity, Hartley has a market value debt-to-assets ratio of 40%. The firm's cost of equity is 13%, its pre-tax cost of debt is 8%, and the flotation costs of debt and equity are 2% and 8%, respectively. The tax rate is 34%. Assume the project is of similar risk to the firm's existing operations. What is Hartley's weighted average cost of capital? Multiple Choice 8.73% 9.05% 9.91% 6.09% 8.95%