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Bonanza Brothers Ltd manufactures leather saddles and has the following capital structure which it considers to be optimal under present and forecast conditions: _ Prom'on Used W 40% Equityr (10% Total debt and equity lll% For the coMg year= the nancial manager Hoss Cartwright expects after-tax earnings of $2.4 million. Bonanza Brothers" past dividend policy of paying out till] per cent of earnings will continue. Present commitments om its banker will allow Bonanza Brothers to borrow further amounts of nance according to the following schedule: Loan Amount Interest Rate 50 to SHIELDED 9% W5 lll and shove 11% Bonanza Brothers' taxation rate is 4!] per cent. The current market price of its shares is $4.30. Its most recent dividend was $13.46 per share, and the expected growth rate in dividends is a constant 5 per cent per annum. External equity can he sold at a otation cost of 1:] per cent of the amount raised. Bonanza Brothers has the following capital myestment opportunities for the next year: Pro'eet % Internal Rate Return A SEIIJUJJUUI 115% pa. B $1,2lltl,lltl 15% pa. C '35 lltlJltl 14% pa. [1 STSUJJUD 12% pa. E $1,[Illtl,lltl 11% pa. Beg aired: a Calculate the break points of total nancing associated with each source of capital for Bonanza Brothers. [marks] h Calculate the costs of equity and debt capital associated with their respective total nancing break points. [marks] c Calculate the weighted average cost of capital (WAGE) for each of the ranges of total new nancing determined in part a. [marks] d Which capital projects should Bonanza Brothers accepts for the coming year"?I Why"? Support your answer with the use of a WMCC schedule and IDS graph. [maria]