(Woighted average cost of capita) Cranford Enterprises is a publicly held company locased in Amold, Kansas. The firm began as a small foot and dio shop but grew over its 35 -year Ife to become a leading supplier of metal fabrication equipment used in the farm tractor industry. At the closo of 2019, the firm's balance sheet appeared as follows: At prosent the firm's common stock is selling for a price equal to its book value, and the firm's bonds are selling at par. Crawford's managors estimate that the market requires a return of 17 percent on its common stock, the firm's bonds command a yield to maturity of 9 percent, and the firm faces a tax rate of 23 percent. a. What is Crawlord's weighted average cost of capital? b. If Crantord's stock price were to rise such that it sold at 1.5 times book value, cousing the cost of equity to tall to 15 porcent, what would the firm's cost of capital be (assuming the cost of debt and tax rate do not change)? c. Crawlord is considering a new bushess opportunity involving the acquisition of a trucking firm. What do you think the firm thould do to select an appropelate cost of capital for evaluating this acquition? Data table a. What is Crawlores woiphted averoge cost of capiart (Round to two decinal places)