The steps needed to estimate the weighted average cost of capital are: 1. Establish target market value weights for each capital layer Estimate the opportunity cost of non-equity finance on an after-tax basis 3. Estimate the opportunity cost of equity financing. True or false? True False The steps needed to estimate the weighted average cost of capital are: 1. Establish target market value weights for each capital layer Estimate the opportunity cost of non-equity finance on an after-tax basis 3. Estimate the opportunity cost of equity financing. True or false? True False