A corporation has the following market values $($in millions of $$)$: debt $=43\mathrm{.}80$; preferred stock $=11\mathrm{.}90$; common stock $=88\mathrm{.}22.$ The marginal corporate tax rate is $30\%.$ Required rates of return are as follows: $12\%$ on debt, $14\%$ on preferred stock, and $15\%$ on common stock. Calculate weighted average cost of capital.Question $9$ Answera$\mathrm{.}9\mathrm{.}80\%$b$\mathrm{.}12\mathrm{.}91\%$c$\mathrm{.}15\mathrm{.}10\%$d$\mathrm{.}14\mathrm{.}00\%$e$\mathrm{.}11\mathrm{.}45\%$