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Tapley Inc. recently hired you as a consultant to estimate the company's w following information: (1) Tapley's bonds mature in 25 years, have a 9% annual par value of $1,000. The bonds have a market price of $909.23. (2) Any newly placed with zero flotation costs 3) The company's tax rate is 40% 4) The risk-free rate is 40% the market . ACC. You have obtained the coupon (paid annually) and a issued bonds ill be privately 2) Any d stock pays an 8% annual dividend, has a $100 par value, and a mar flotation cost. ( preferred stock. Tapley uses the CAPM to estimate the cost of equity, and it does not expect to have to issue any new common stock. What is its WACC? (10 points) ket price of $64. (6) New preferred stock would incur a 4% 7) The target capital structure consists of 50% long-term debt, 40% common equity, and 10%