Assume that a new firm will require $$50,000,000$ 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 $6\mathrm{.}00$ percent, the firm's cost of stock will be $18\mathrm{.}00$ 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 NOPAT of $ $7,120,000$ in Years $1$ through infinity $.$ Given this information determine what the firm's new cost of stock $()$ will be after equilibrium is achieved $.16\mathrm{.}053\%16\mathrm{.}767\%16\mathrm{.}410\%15\mathrm{.}696\%17\mathrm{.}124\%$