Unless otherwise instructed, use two (2) decimal places for both percentages and dollar amounts. This is enforced, like in Connect. If you need to enter units, use % for percentages, $ for dollar amounts, x for times and years for years. Question 9 (4 points) Hilliard Corp. needs to estimate its cost of capital. The company's CFO has the following information: The company's target capital structure is 25 percent debt and 75 percent equity . Long-term bonds yield 9.00 percent; the cost of retained earnings is 13.00 percent, that of new common stock is 19.00 percent. The firm's tax rate is 40 percent. . Since the firm expects to have no retained earnings, it plans to issue new common stock. Hilliard's weighted average cost of capital is: Your Answer: