Given the following info, calculate the weighted average cost for a firm:
Percent of Capital Structure: Preferred Stock: 10%, Common Equity: 70%, Debt: 20%
Additional info:
Corporate tax rate: 34%, Dividend, preferred: $8.00, Dividend, expected common: $4.00
Price, preferred: $80.00, Growth rate: 5%, Bond yield: 7%, Price, common: $80.00