Note: Answers should be clearly labeled (for example, Answer = $2,300; Answer = A is preferred since )

Only if there are more than 6 decimal points, round up to 6 decimal points (for example, 21.237888743 => 21.237889; 21.233333333 => 21.233333).

Use the following symbols for arithmetic operations: Instructions: Mullineaux Corporation has a target capital structure of 55 percent common stock, 5 percent preferred stock, and 40 percent debt. Its cost of equity is 9 percent, the aftertax cost of debt is 4.8 percent, and the cost of preferred stock is 6 percent. The relevant tax rate is 40 percent. What is Mullineauxs WACC?