Southern Alliance Company needs to raise $20 million to start a new project. The company has a target capital structure of 65 percent common stock, 8 percent preferred stock, and 27 percent debt. Flotation costs for issuing new common stock are 10 percent, for new preferred stock, 6 percent, and for new debt, 5 percent. What is the true initial cost figure Southern should use when evaluating its project? (Do not round your intermediate calculations. Note: calculate the weighted average flotation costs (f) first.) Multiple Choice O $21666,000 $21,817,388 $18,600,000 $20.944,692