The Imaginary Products Co. currently has debt with a market value of $300 million outstanding. The debt consists of 9 percent coupon bonds (semiannual coupon payments) which have a maturity of 1: years and are currently priced at $1,147.47 per bond. The firm also has an issue of 2 million preferred shares outstanding with a market price of $12. The preferred shares pay an annual dividend of $1.20. Imaginary also has 14 million shares of common stock outstanding with a price of $20.00 per share. The firm is expected to pay a $2.20 common dividend one year from today, and that dividen is expected to increase by 6 percent per year forever. If Imaginary is subject to a 40 percent marginal tax rate, then what is the firm's weighted average cost of capital? Your answer is incorrect. Try again. Calculate the Weights for debt, common equity, and preferred equity. (Round intermediate calculations to 4 decimal places, e.g. 1.2514 and final answer to 2 decimal places, e.g. 15.25%.) Debt Preferred equity 3.8 Common equity T44.59 7.77 Your answer is incorrect. Try again. Calculate the cost of debt. Round intermediate calculations to 4 decimal places, e.g. 1.25 14 and final answer to 2 decimal places, eg. 15.25%. Cost of debt T5.4 ?Your answer is correct. Calculate the cost of preferred equity Round intermediate calculations to 4 decimal places e g 1 2514 and final answer to 2 decin a places, e is25% Cost of preferred equity-101 % Your answer is incorrect. Try again. Calculate the cost or common equity. Round intermediate calculations to 4 decimal places, e.g 1.2514 and final answer to 2 deca nar places, eg 15 2sm Cost of common equity Your answer is incorrect. Try again what is the firm's weighted average cost of capital? (Round intermediate calculations to dec na places, e 1 2SM and final answer to decima piace, eg. 15.2596 WACC