Florida corp. is calculating the appropriate rate for discounting cash flows on a project valued using the apv method. florida’s target debt ratio (d/(d+e)) in market value terms is 50%, and the yield-to-maturity on its outstanding debt is 6%. a comparable firm has an equity beta of 1.4 and a debt ratio (d/(d+e)) of 40%. assume a risk-free rate of 5% and a market risk premium of 8%. florida’s tax rate is 40%. what discount rate should florida use?