Charlotte's Crochet Shoppe has 14,300 shares of common stock outstanding at a price per share of $75 and a rate of return of 11.61 percent. The company also has 280 bonds outstanding, with a par value of $2,000 per bond. The pretax cost of debt is 6.13 percent and the bonds sell for 97.2 percent of par. What is the firm's WACC if the tax rate is 40 percent?

Due to rapid employee turnover in the accounting department, the following transactions involving intangible assets were improperly recorded by bridgeport corporation. 1. bridgeport developed a new manufacturing process, incurring research and development costs of $195,600. the company also purchased a patent for $45,200. in early january, bridgeport capitalized $240,800 as the cost of the patents. patent amortization expense of $12,040 was recorded based on a 20-year useful life. 2. on july 1, 2017, bridgeport purchased a small company and as a result recorded goodwill of $52,000. bridgeport recorded a half-year’s amortization in 2017, based on a 20-year life ($1,300 amortization). the goodwill has an indefinite life. prepare all journal entries necessary to correct any errors made during 2017. assume the books have not yet been closed for 2017.