Titan Mining Corporation has 10.8 million shares of common stock outstanding and 150,000 10.5 percent semiannual bonds outstanding, par value $1,000 each. The common stock currently sells for $35 per share and has a beta of 1.25, and the bonds have 14 years to maturity and sell for 94 percent of par. The market risk premium is 12 percent, T-bills are yielding 6.5 percent, and Titan Mining's tax rate is 32 percent.

Requirement 1:

What is the firms market value capital structure? (Round your answers to 4 decimal places. (e.g., 32.1616))

Market value weight of debt
Market value weight of equity

Requirement 2:

If Titan Mining is evaluating a new investment project that has the same risk as the firm's typical project, what rate should the firm use to discount the projects cash flows? (Do not include the percent sign (%). Round your answer to 2 decimal places. (e.g., 32.16))

Weighted average cost of capital