Southern Alliance Company needs to raise $24 million to start a new project and will raise the money by selling new bonds. The company will generate no internal equity for the foreseeable future. The company has a target capital structure of 50 percent common stock, 11 percent preferred stock, and 39 percent debt. Flotation costs for issuing new common stock are 11 percent, for new preferred stock, 8 percent, and for new debt, 2 percent. The true initial cost figure Southern should use when evaluating its project is $___?___. (Do not include the dollar sign ($). Do not round the weighted average floatation cost. Round your answer to the nearest whole dollar amount. (e.g., 32))