2. Miller Manufacturing has a capital structure of 50% common stock, 5% preferred stock, and 45% debt. It just issued a dividend of $1.22 per share on its common stock. Dividends are expected to grow at a constant rate of 5%. Current common stock price is $45. Cost of preferred stock is 7.5% and before tax cost of debt is 7.5%. Tax rate for this firm is 21%. What is the WACC for this firm?