Remaining Time: 14 minutes, 47 seconds. Question Completion Status: (CHAPTER 14) Cal Poly Corporation would like to start a new project building a high-tech rose float for the next regional contest. This rose float project will require $53,000 in the initial cost. The company is planning to raise this amount of money by selling now corporate bonds and new stocks. It has a target optal structure of 40 percent common stock, and 30 percent debt. Flotation costs for issuing new common stock is 7%, and for new debtis 4% (a) The true required initial investment that Cal Poly Corporation should use i s valuation of the rose float proiect is increase decimal places for any intermediate culations from the default 210 5 or higher Only round your final answer) 1 SSS 007 ROSE FLOAT CONCEPT CONTEST (b) TRUE OR FALSE? The higher the flotation costs the higher the inhal investment that needs to be used in project valuation, and so the higher the project's Net Present Value. This statement is 01 TRUE 2 FALSE