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The following information was given for CONOCOPHILLIPS (COP stock ticker symbol). All amounts are in millions....

The following information was given for CONOCOPHILLIPS (COP stock ticker symbol). All amounts are in millions. At December month end, 2015 2014 Total assets $97,484.0 $116,539.0 Total liabilities $57,402.0 $64,266.0 Total equity $40,082.0 $52,273.0 . . . For the year ended December, 2015 2014 Sales $29,564.0 $52,524.0 Net income $-4,428.0 $6,869.0 Assume that the company has an effective tax rate of 35% and an average cost of debt financing of 12%, calculate the cost of financing for CONOCOPHILL for 2015? Since the company had a loss for 2015, the 2015 return on equity is NOT a good measure of the cost of equity financing. So use 2014's net income / 2014 year end equity as a proxy for the cost of equity financing. this is aall the information I have on this problem. Please answer this problem for me. Thank you.

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