you are given the following information on parrothead enterprises: debt: 9,900 7.4 percent coupon bonds outstanding, with 21 years to maturity and a quoted price of 106.25. these bonds pay interest semiannually and have a par value of $1,000. common stock: 270,000 shares of common stock selling for $65.40 per share. the stock has a beta of .97 and will pay a dividend of $3.60 next year. the dividend is expected to grow by 5.4 percent per year indefinitely. preferred stock: 8,900 shares of 4.7 percent preferred stock selling at $94.90 per share. the par value is $100 per share. market: 11.1 percent expected return, risk-free rate of 4.05 percent, and a 24 percent tax rate.