Assume that a new firm will require $$10,000,000$ in initial capital: $40\mathrm{.}0$ percent as debt and $60\mathrm{.}0$ percent as stock. At the time of issue, the firm's before$-$tax cost of debt will be $7\mathrm{.}00$ percent, the firm's cost of stock will be $17\mathrm{.}00$ percent, and the firm's tax rate will be $40\mathrm{.}0$ percent. Also assume that all cash flows will be perpetuities, that all net income will be paid out to the stockholders as dividends $($zero growth$),$ that there will be no additional investments in current or fixed assets, and that there is no depreciation. Now assume that the firm will have NOPA of $$1,450,000$ in Years $1$ through infinityGiven this information and using the method demo in class, determine what the firm's new cost of stock $($r$\_\{$s$\})$ will be after equilibrium is achieved. $16\mathrm{.}5266\%16\mathrm{.}2775\%15\mathrm{.}9086\%15\mathrm{.}6239\%15\mathrm{.}7236\%$