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The firm's target capital structure is the mix of debt, preferred stock, and common equity the firm plans to raise funds for its future projects. The target proportions of debt, preferred stock, and common equity, along with the cost of these components, are used to calculate the firm's weighted average cost of capitai (wacC). If the firm will not have to issue new common stock, then the cost of retained earnings is used in the firm's WACC calculation, Howeve, if the firm wit have to issue new common stock, the cost of new common stock should be used in the firm's wacc colculation. Quantitative Problem: Barton Industries expects that iss target capital structure for raising funds in the future for its capital budget will consist of 40N debt, 54 preferred stock, and 55% common equity. Note that the firm's marginal tax rate is 25%. Assume that the firm's cont of debt, ra, is 10.6\%, the firm's cont of preferred atock, r, in 9.8% and the firm's cost of equity is 13.2% for old equity, for and 13.6% for new equity, fo. What is the firm's nelghted average cost of capital (WhcC, if it uses retained eamings as its source of common equity? Do not round intermedate calculations. Round your answer to two decimal places. \% What is the firms weighted average cost of capiaf (WMCC) if a hus to issue new common stock? Do not round intermesate calculations. Reund your aniwer to two decimal places