Suppose your company needs $$18$ million to build a new assembly line. Your target debt equity ratio is $7.$ The flotation cost for new equity is $7$ percent, but the flotation cost fo debt is only $4$ percent. Your boss has decided to fund the project by borrowing mone$)$ because the flotation costs are lower and the needed funds are relatively small.

a$.$ What is your company's weighted average flotation cost, assuming all equity is raisec externally? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$ What is the true cost of building the new assembly line after taking flotation costs into account? $($Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to the nearest whole number, e$.$g$.,1,234,567.)$

$\backslash$table$[[$a$.$ Flotation cost,,$13\mathrm{.}72x,\%$