A company has $400 million worth of debt outstanding with an average interest rate of 5% and 50 million common shares outstanding worth $12 each. The companys tax rate is 20%, beta is 1.3, the yield on 10-year Treasury notes is 1.5% and the expected market return is 9.5%. What is the companys weighted average cost of capital (WACC) based on the current weights for debt and common stock in its capital structure?