Computer CALCULATING THE WACC Here is the condensed 2016 balance sheet for Skye Company (in thousands of dollars): 0-21 2016 Current assets Net fixed assets Total assets $2,000 3,000 $%5,000 Accounts payable and accruals Short-term debt Long-term debt Preferred stock (10,000 shares) Common stock (50,000 shares) Retained earnings Total common equity Total liabilities and equity $ 900 100 1,100 250 1,300 1,350 $2.650 $5,000 Skye's earnings per share last year were $3.20. The common stock sells for $55.00, las year's dividend (Do) was $2.10, and a flotation cost of 10% would be required new common stock. Security analysts are projecting that the common dividend wi grow at an annual rate of 9%. Skye's preferred stock pays a dividend of $3.30 per share, and its preferred stock sells for $30.00 per share. The firm's before-tax cost to sell of