Axel Rose Inc. (ARI) has a 15 year, 12% semi-annual coupon bond that is currently selling for $1,153.72. ARI’s current stock price is $25.00 and the company expects its next dividend to be $2.50 with a constant growth rate of 5%. ARI’s preferred stock has a par value of $100.00, a $7.50 dividend and is selling for $60.00 per share. ARI has a capital structure of 50% debt, 20% preferred stock, and 30% equity. ARI’s tax rate is 40%. Calculate the costs of equity, debt and preferred stock and the WACC.