Southern Alliance Company needs to raise $29 million to start a new project. The company has a target capital structure of 60 percent common stock, 8 percent preferred stock, and 32 percent debt Flotation costs for issuing new common stock are 15 percent, for new preferred stock, 5 percent, and for new debt, 3 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.)