please confirm this answer by showing complete work through

Use the following information to answer questions 21 - 22 A stock analyst has obtained the following information about J-Mart, a large retail chain: 2100 1 pm (1) The company has noncallable bonds with 20 years maturity remaining and a maturity value of $1.000. The bonds have a 12 percent annual coupon and currently sell at a price of S1,273.8564. If the firm were to issue new bonds today they would incur flotation costs of 10% per bond. (2) Over the past four years, the returns on the market and on J-Mart were as follows: Year 1995 1996 1997 1998 Market 12.0% 17.2 -3.8 20.0 Mart 10.0% 14.5 -2.1 18.0 (3) The current risk-free rate is 6.35 percent, and the expected return on the market is 11.35 percent. The company's tax rate is 35 percent. (4) The company anticipates that its proposed investment projects will be financed with 70 percent debt and 30 percent equity The Company is considering opening a new store in Salt Lake City. If the company goes ahead with the project, it must spend Si million immediately ( 0) and another 51 million at the end of Year 2(t-2). It will receive net cash flows of 50.5 million at the end of Year I and net cash flows of 50.75 million at the end of Years 3.5. All cash inflows and outflows are after taxes. 21. What is the company's estimated weighted average cost of capital (WACC)? 9.88 22. What is the project's modified IRR (MIRR)? 10.79%