Journalize the transactions. a. Diane Lexington begins business as a real estate agent with a cash investment of $20,058 in exchange for common stock.
b. Hires an administrative assistant.
c. Purchases office furniture for $2,307, on account.
d. Sells a house and lot for N. Fennig; bills N. Fennig $3,610 for realty services performed.
e. Pays $852 on the balance related to the transaction of October 3.
f. Pays the administrative assistant $2,507 in salary for October.

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?