15. Cream and Crimson has a capital structure of 60% debt and 40% equity. The tax rate is 34%. The firm's bonds currently trade in the market for $784. These face value $1,000 bonds have a coupon rate of 8%, paid semiannually, with 7 years to maturity. The firm's common stock trades for $15 per share and the company's beta is 1.28 . The risk-free rate (Rf)=3.2% and the market risk premium (RmRf)=8.1%. Given this information, Cream and Crimson's WACC is %