WACC Estimation On January 1, the total market value of the Tysseland Company was $60 million. During the year, the company plans to ralse and invest $10 million in new projects. The firm's present market value capital structure, here below, is considered to be optimal. There is no short-term debt. Debt Common equity Total capital $30,000,000 30,000,000 $60,000,000 bonds will have an 6% coupon rate, and they will be sold at par. Common stock is currently sellin at $30 a share. The stockholders' equired rate of return is estima edtobe L % consisting of ad viden yield of 496 and expected constant growth rate of 8%(The next expected dividend is $1.20, so the dividend yield is $1.20/$30 = 4%.) The marginal tax rate is 40% a. In order to maintain the present capital structure, how much of the new investment must be financed by common equity? Enter your answer in dollars. For example, $1.2 million should be entered as $1200000 b. Assuming there is sufficient cash flow for Tysseland to maintain its target capital structure without issuing additional shares of equity, what is its WACC? Round your answer to two decimal places