Your Company is planning an expansion and needs to develop an estimate of the firm s cost of capital. You have gathered the following data: Tax rate is 40% The price of Your Company s 12 percent coupon annual payment noncallable $1000 face value bonds with 15 years to maturity is $1153.72. The company does not use short-term debt on a permanent basis. New bonds would be privately placed with no flotation cost. The price of Your Company s 10 percent $100 par value quarterly dividend preferred stock is $111.10. Your Company s common stock is selling for $50 per share. Its last dividend was $4.19 and dividends are expected to grow at a constant 5 percent rate. If Your Company issues new common stock it will incur a 15 percent flotation cost. Your Company s target capital structure is 30 percent long-term debt 10 percent preferred stock and 60 percent equity.Determine:(a) The cost of debt.(b) The cost of retained earnings.(c) The cost of new equity.(d) The WACC using retained earnings.