A company has 300,000 bonds outstanding that make semi-annual coupon payments currently trading at $1,010, with a 8% coupon rate and 15 years to maturity. In addition, the company has a current stock price of $54, five million shares outstanding, a 35% tax rate, a beta of 0.85, a risk-free rate of 2%, and an expected market return of 9%. What is the weighted average cost of capital (WACC)?