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A company has the following information, find its WACC. Assume the company's tax rate is 25 percent. Debt: 50,000,6 percent coupon bonds outstanding, $1,000 par value, 15 years to maturity, selling for 98 percent of par; the bonds make annual coupon payments. Common stock: 800,000 shares outstanding, selling for $65 per share; the beta is 1.30. Market: 7 percent market risk premium and 3 percent risk-free rate. 8.49%9.03%9.57%10.11%10.65% A company has projected sales of $80 million next year (i.e., year 1 ). Costs are expected to be $44 million, and net investment, including net working capital and capital spending less depreciation, is expected to be $7.2 million. Each of these values is expected to grow at 8 percent for the next two years (i.e., years 2 and 3), then grow at a constant rate of 5% after that. There are 8 million shares of stock outstanding and investors require a return of 12.8 percent on the company's stock. The corporate tax rate is 25 percent. What is your estimate of the current stock price? $33.38$28.89$24.40$19.91$15.42