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(Chapters 4 and 13 - Short-answer question, Use the following information to answer questions 12 to 15.) BMI Inc. is considering a project with an initial investment of $1.115,000. The annual cash flow of the project is $119,000 and is expected to continue forever (perpetuity). The discount rate (r or WACC) for the project is 10 percent. The company can issue common equity at a flotation cost of 8.5 percent, debt at 6.0 percent, and preferred stock at 7.0 percent. The firm currently has a capital structure that is 60 percent common equity, 10 percent preferred, and 30 percent debt. The firm is considering two scenarios. First, all funds will be raised externally. Second, forty (40) percent of common equity will come from retained earnings (internal sources). What should the firm use as their weighted average flotation cost for the two scenarios? If the firm has to invest $1,115,000 in the project how much money does it have to raise (round to the nearest dollar) in the two scenarios? What is the present value of the cash flows of the project? (Remember the cash flows are a perpetuity) Should the firm invest in the project if (a) there were no flotation costs (b) in the first scenario and (c) in the second scenario and why? Credit will only be given if you provide numerical support for your answers, please show all work and steps thank you