The stock is currently selling for $15.25 per share, and its noncallable $1,000.00 par value, 20 -year, 9.00% bonds with semiannual payments are selling for $930.41. The beta is 1.22 , the yield on a 6 -month Treasury bill is 3.50%, and the yield on a 20 -year Treasury bond is 5.50%. The required return on the stock market is 11.50%, but the market has had an average annual return of 14.50% during the past 5 years. The firm's tax rate is 25%