The following information was given for CONOCOPHILLIPS (COP stock ticker symbol). All amounts are in millions. At December month end, 2015 2014 Total assets $97,484.0 $116,539.0 Total liabilities $57,402.0 $64,266.0 Total equity $40,082.0 $52,273.0 . . . For the year ended December, 2015 2014 Sales $29,564.0 $52,524.0 Net income $-4,428.0 $6,869.0 Assume that the company has an effective tax rate of 35% and an average cost of debt financing of 12%, calculate the cost of financing for CONOCOPHILL for 2015? Since the company had a loss for 2015, the 2015 return on equity is NOT a good measure of the cost of equity financing. So use 2014's net income / 2014 year end equity as a proxy for the cost of equity financing. this is aall the information I have on this problem. Please answer this problem for me. Thank you.