Target% in Capital Structure Debt 40% Preferred Stock 10% Equity 50% Tax Rate = 21% Common Outstanding Bond Preferred Stock Info Stock Info (Annual Coupons) Preferred Divided $3.00 Current Dividend $3.00 Time to Maturity (years) 10 Current Market Price Current $60.00 Price $50.00 Coupon Rate APR 5.00% Preferred Yield Expected 5.00% Growth in Dividends 2.16% Face Value $1,000 Expected Return on Equity 8.29% Current Market Price $1,240 YTM 2.29% Using the information in the table, what is the firm's WACC? State your answer as a percentage to two decimal places (e.g., 5.30) Question 4 1 pts If the income tax rate applicable to a firm is 35% and the pre-tax cost of debt is 10%, what is the after-tax cost of debt? O 6.5% O None of the choices is correct O 3.5% O 10%