Omicron industries' market value balance sheet ($ millions) and cost of capital assets liabilities cost of capital cash 0 debt 200 debt 6% other assets 500 equity 300 equity 12%τc 35% omicron industries new project free cash flows year 0 1 2 3 free cash flows ($100) $40 $50 $60 assume that this new project is of average risk for omicron and that the firm wants to hold constant its debt to equity ratio. the debt capacity for omicron's new project in year 2 is closest to:

Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours.required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)