A company has 1 million shares of common stock outstanding, which currently trade at a price of $50 per share. The company believes that its stockholders require a 15% return on their investment. The company also has issued 5-year, fixed-rate notes with a yield to maturity of 7%. The current market value of the 5-year notes is $49 million. Lastly, the company has 200,000 outstanding preferred shares, which pay an $8 annual dividend and currently trade for $80 per share. What is the company's WACC if the corporate tax rate is 35%?

a) 11.30%

b) 12.00%

c) 9.80%

d) 14.00%

e) None of the above

Please show how you get this!