1. Project L costs $55,000, its expected cash inflows are $12,000 per year for 8 years, and its WACC is 9%. What is the project's MIRR? Round your answer to two decimal places. Do not round your intermediate calculations. %
2. Project L costs $46,065.44, its expected cash inflows are $10,000 per year for 9 years, and its WACC is 9%. What is the project's IRR? Round your answer to two decimal places.
3. Torch Industries can issue perpetual preferred stock at a price of $57.50 a share. The stock would pay a constant annual dividend of $5.00 a share. What is the company's cost of preferred stock, rp? Round your answer to two decimal places. %