1. Pangbourne Whitchurch has preferred stock outstanding. The stock pays a dividend of $6 per share, and sells for $40. The corporate tax rate is 35%. What is the percentage cost of the preferred stock?
2. Project L costs $56,507.31, its expected cash inflows are $12,000 per year for 11 years, and its WACC is 14%. What is the project's IRR? Round your answer to two decimal places. %
3. Project L costs $45,000, its expected cash inflows are $12,000 per year for 9 years, and its WACC is 11%. What is the project's NPV? Round your answer to the nearest cent. Do not round your intermediate calculations.