The following information relates to Hadley Corporation. Compute the Weighted Average Cost of Capital (WACC) for externally generated funds: # of shares/bonds issued FMV of one share/bond Preferred Shares 170,000 $12.00 Common Equity 110,000 $35.00 Debt 2,000 $1,000.00 Additional Information Corporate tax rate 40% Dividend, Preferred $3.00 Dividend, Common $1.60 (last dividend payment) Price, Preferred $12 Price, Preferred $12 Price, Common $35 Corporate growth rate 6% Bond yield (market rate) 10% Flotation costs, preferred 3.50% Flotation costs, common $1.95 (per share) Flotation costs, debt 5%