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The Crane Products Co, currently has debt with a market value of $275 milion outstanding. The debt consists of 9 percent coupon bonds (semiannual coupon payments) which have a maturity of 15 years and are currently priced at $1,418.61 per bond. The firm also has an issue of 2 million preferred shares outstanding with a market price of $11 per share. The preferred shares pay an anmual dividend of $120. Crane also has 14 million shares of common stock outstanding with a price of $20.00 per share. The hirm Is expected to pay a $220 common dividend one year from today, and that dividend is expected to increase by 5 percent per year forever. If Crane is subject to a 40 percent marginal tax rate, then what is the firm's weighted avcrage cost of capitar? Excel Template (Note: This template includes the problem statement asit appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values yourve been given here, and be sure to update any values that may have been pre entered in the template based on the textbook version of the probiem.) (31) Your answer is correct. Calculate the weights for debt, common equity, and preferred equity. (Round intermediate cokculations and final answers to 4 decimal ploces es 125141 Debt Preferred equity Common equity Calculate the yleld to maturity of the debt. (Round intermediate calculations to 4 decimal ploces, eg. 1.2514 and final answer to 2 decimal ploces es. 15.25\%) Yield to maturity of the debt os

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