Test Content Question 1 25 Points New Performance corp. has 712790 shares of 8 percent preferred stock and 5.5 million shares of common stock outstanding. The preferred stock sells for $ 9 a share. The common stock has a beta of 1.62 and sells for $51 a share. The U.S. Treasury bill is yielding 6 percent and the return on the market is 9.3 percent. Also the corp. has 47319 bonds outstanding that are selling at 1348.The bonds outstanding have 25 years to maturity and pay an annual coupon payment of 9%. The corporate tax rate is 39 percent. What is the firm's weighted average cost of capital? (The face value of a bond is 1000)