saul goodman and associates are investing in a major capital budgeting project that will require the expenditure of $20 million. the money will be raised by issuing $8 million of bonds, $2 million of preferred stock, and $10 million of common stock. the company estimates its after-tax cost of debt to be 4.50%, its cost of preferred stock to be 9%, and the cost of common stock to be 14%. the firm has a marginal tax rate of 45%. what is the weighted average cost of capital (wacc) for this project?
