The lvanhoe Products Co. currently has debt with a market value of $250 willion outstanding The debt consists of 9 percent coupon bonds (semiannual coupon payments) that have a maturity of 15 yesirs and ane cutrentiy priced at $1.423.92 per bond. The fim aiso has an issue of 2 million preferred stares outstanding with a market price of 15.150 per share the preferred shares pay an annual dividend of $120. Ivanhoe also has 14 milion shares of common stock oufstanding with a price of $20.00 pershare. The firm is expected to pay a \$2.20 common dividend one year from today and that dividend is expected to merease by 4 percent per year forever. If lvanhoe is subject to a 28 percent marginal tax rate Excel template Noter This template includes the problem statement as it appears in your toxtbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values you've been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.) Calculate the cost of debt. (Round intermediate calculations to 4 decimal pl 15.25\%.) Cost of debt % eTextbook and Media