4. Macatawa Bank Corporation (MCBC) is trying to raise funds to further grow their company. Given the information below, calculate the weighted average cost of capital to help measure MCBC's expense of financing future projects. Common shares: $2 million ($5/share) Preferred Shares: $300,000 ($6.25/share, $0.59 dividend per share) Beta: 2.1 MRP: 7% Risk Free Rate: 2.7% Outstanding Debt (market value): $3.2 million Current Bond Price: $825 Coupon Rate (compounded semiannually): 5%, 10 years to maturity Tax Rate: 40%