34. The book value of Aloha Airlines debt is $42 million but is currently trading for 95% of book value, has a coupon rate of 6% and priced to yield 4.8%. The 2,600,000 shares of stock are currently trading at $11.65 per share. The risk-free rate is 1.7%, the expected return to the market portfolio is 9%, and the beta for the firm is 1.8. There are 600,000 shares of preferred stock priced at $30 per share. Preferred Stock dividends are $2/share. The average tax rate is 30% and the marginal rate is 25%. What is the weighted average cost of capital (WACC)?