Given the following information, calculate the point in total funding where the firm will exhaust available retained earnings. bond yield: 7% tax rate: .38 available retained earnings: $4,500,000 cost of new common stock: 13.9% cost of retained earnings: 11.4% capital structure: 45% debt 7% preferred equity 48% common equity

Western electric has 32,000 shares of common stock outstanding at a price per share of $79 and a rate of return of 13.00 percent. the firm has 7,300 shares of 7.80 percent preferred stock outstanding at a price of $95.00 per share. the preferred stock has a par value of $100. the outstanding debt has a total face value of $404,000 and currently sells for 111 percent of face. the yield to maturity on the debt is 8.08 percent. what is the firm's weighted average cost of capital if the tax rate is 39 percent?