Problem 14-19 Calculating Flotation Costs [LO4] Cully Company needs to raise $70 million to start a new project and will raise the money by selling new bonds. The company will generate no internal equity for the foreseeable future. The company has a target capitai structure of 70 percent common stock. is percent preferred stock, and 15 percent debt filotation costs for issuing new common stock are 10 percent, for new preferred stock. 7 percent and for new debt. 2 percent. What is the true initial cost figure the company should use when evaluating its project? (Do not round intermediate calculations ond enter your answer in dollers. not millions, rounded to the nearest whole dollar amount, e.g.. 1.234,567