titan mining corporation has million s14 hares of common stock outstanding, 900,000 shares of 9 percent preferred stock outstanding and 220000 ten percent semiannual bonds outstanding, par value $1000 each. The common stock currently sells for $42 per share and has a beta of 1.15, the preferred stock currently sells for $80 per share, and the bonds have 17 years to maturity and sell for 91% of par. The market risk premium is 11.5%, t-bills are yielding 7.5% and the firm's tax rate is 32%. What discount rate should the firm apply to a new project's cash flows if the project has the same risk as the firm's typical project?

A.14.59%

B.14.72%

C.15.17%

D.15.54%

E.16.88%