Question: Can someone answer this and give step by step instructions of how to do it in Excel? Answer is 16.81. Easy Car Corp. is a

Can someone answer this and give step by step instructions of how to do it in Excel? Answer is 16.81.

Easy Car Corp. is a grocery store located in the Southwest. Next year dividend is $4.00 and plans to increase the dividend annually at the rate of 3.0%. It currently has 1,000,000 common shares outstanding. The shares currently sell for $20 each. Two years ago, Easy Car Corp. issued 30,000 semiannual 21-year bonds with a coupon rate of 10% and a par value of $1,000. The bonds currently have a yield to maturity (YTM) of 14%. What is the weighted average cost of capital (WACC) for Easy Car Corp. if the corporate tax rate is 20%?

When answering this problem enter your answer using percentage notation but do not use the % symbol and use two decimals (rounding). For example, if your answer is 0.10469 then enter 10.47; if your answer is 10% then enter 10.00

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