A company has 500,000 shares of common stock outstanding at a market price of $60 a share. Last month, the company paid an annual dividend in the amount of $3.60 per share. The dividend growth rate is 4.5%. The company also has 25,000 bonds outstanding with a face value of $1,000 per bond. The bonds carry a 6% coupon, pay interest annually, and mature in 20 years. The bonds are sold at par. The company's tax rate is 21%. What is the company's weighted average cost of capital?