10. A stock has just paid $3 of dividend. The dividend is expected to grow at a constant rate of 3% a year, and the common stock currently sells for $66. The before-tax cost of debt is 9%, and the tax rate is 20%. The target capital structure consists of 29% debt and 71% common equity. What is the company's WACC if all the equity used is from retained earnings? 11 81% 11 91 10 58 11 25 10.69