The firm is interested in measuring its overall cost of capital. The firm is in the 40% tax bracket. The firm can raise debt by selling $1000-par-value, 7% coupon interest rate, 20-year bonds on which annual interest payments will be made. To sell the issue, an average discount of $30 per bond would have to be given. The firm also must pay floatation costs of $30 par bond. The firm can sell 8% preferred stock at its $95-per-share par value. The cost of issuing and selling the preferred stock is expected to be $5 per share. The firm's common stock is currently selling for $90 per share. The firm expects to pay cash dividends of $7 per share next year. The firm's dividends have been growing at an annual rate of 5% and this growth is expected to continue into the future. The stock must be underpriced by $7 per share, and floatation costs are expected to amount to $5 per share. It expects to have available $100,000 of retained earnings in the coming year; once these retained earnings are exhausted, the firm will use new common stock as the form of common stock equity financing. i. Calculate the after-tax cost of debt; cost of preferred stock; cost of common stock. ii. Calculate the firm's weighted average cost of capital using 30% debt, 20% preferred stock, and 50% common stock equity