Thinking Hat would like to start a new project which will require $21 million in the ini cost. The company is planning to raise this amount of money by selling new corpori bonds. It will generate no internal equity for the foreseeable future. Thinking Hat ha: target capital structure of 70 percent common stock, 9 percent preferred stock, and percent debt. Flotation costs for issuing new common stock are 12 percent, for n preferred stock, 6 percent, and for new debt, 2 percent. What is the true required ini investment that the company should use in its valuation of the project? (Do not rou your intermediate calculations.)