Kuhn Co. is considering a new project that will require an initial investment of $45 million. It has a target capital structure of 45% debt, 4% preferred stock, and 51% common equity. Kuhn has noncallable bonds outstanding that mature in five years with a face value of $1,000, an annual coupon rate of 10%, and a market price of $1,050.76. The yield or issues. The company can sell shares of preferred stoc: 8.18% any's current bonds is a good approximation of the yield on any new bonds that it 11.75% an annual dividend of $8 at a price of $95.70 per share. Kuhn does not have any retained earnings available to common stock is currently selling for $33.35 per share represent 8% of the funds raised by issuing new comr rate of 25%. What will be the WACC for this project? 10.22% 11.24% is project, so the firm will have to issue new common stock to help fund it. Its expected to pay a dividend of $1.36 at the end of next year. Flotation costs will The company is projected to grow at a constant rate of 9.2%, and they face a tax (Note: Round your intermediate calculations to two decimal places.)