Please explain how to solve these problems by using a BA II plus calculator

8. (20 points) Canes Inc. has 56 million shares of common stock outstanding. The book value per share is $25.60 per share. The market price of stock is $44.25 per share. The firm's beta is 1.4. T-bills yield 1.25%, and the inarket risk premium is 8.4%. Canes Inc. has 1.6 million outstanding bonds. The bonds carry a 7% annual coupon, paid semi- annually, $1000 face value, and 15 years to maturity. These bonds currently sell for $1075 each. Canes Inc. has a 35% tax rate. Compute the firm's WACC. ans PAGE 3 Name 9. (30 points) A new product called RanTan is being considered by NewBok. The project requires an outlay of S160,000 for equipment, $32,000 in additional net working capital. The project, including the equipment, is expected to have an 8-year life, but the equipment will be depreciated to a zero book value over 6 years. Further, the equipment is expected to be sold for $15,000 at the end of the 8 years. Revenues minus costs are expected to be $50,000 per year The cost of capital in is 14%. The relevant tax rate is 38%. Compute the NPV of the Ranan project. Before-tax Cash Flow After-tax Cash Flow Present Value TimeItem