Yes They Can, Inc. has a bond issue outstanding with a $1,000 par value and a maturity of 24 years. The annual coupon rate is 12.0% with quarterly coupon payments. The bonds are currently selling for $1,002. The bonds may be called in 4 years for 112.0% of par. What is the quoted annual yield-to-call for these bonds? 14.21% 21.55% 12.34% 2.99% 11.97% Marginal Incorporated (MI) has determined that its after-tax cost of debt is 4.0% for the first $285 million in bonds it issues, and 8.0% for any bonds issued above $285 million. Its cost of preferred stock is 13.0%. Its cost of internal equity is 16.0%, and its cost of external equity is 20.0%. Currently, the firm's capital structure has $540 million of debt, $90 million of preferred stock, and $270 million of common equity The firm's marginal tax rate is 25%. The firm's managers have determined that the firm should have $89 million available from retained earnings for investment purposes next period. What is the firm's marginal cost of capital at a total investment level of $208 million? 9.10% 12.10% 9.70% 10.90% 10.90% 8.50% 7.90% 9.70%