The Millennium Charitable Foundation, which is tax-exempt, issued debt at 9.2% percent to finance a new playground facility in Chicago. If the foundation's tax rate is 35%, what would be the after-tax cost of debt? 2. Goble Builders has a $1,000 par value bond outstanding with 20 years to maturity. The bond has a coupon rate of 8% and is currently selling for $950. What is the yield to maturity? (Before-tax figures are fine). 3. Brown Motor Company issued $100 par value preferred stock 12 years ago. The stock provided a 9 percent yield at the time of issue. The preferred stock is now selling for $82. What is the current yield or cost of the preferred stock? 4. Your company wants to maintain its current capital structure. You have determined that the current after-tax cost of the firm's capital (required rate of return) for each source of financing is as follows: Cost of Debt 8% Cost of Preferred Stock 12% Cost of Common Stock 16% Long term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is your weighted average cost of capital? 6. Firm X has 100,000 outstanding shares and 9 directors. Stone owns 25,000 shares of firm X. How many directors can he elect with cumulative voting?