A company has cost of equity of 11%, cost of preferred stock of 8%, and after-tax cost of debt of 7.5%. The company has 10,000 shares of common stock with a par value of $1 and a market value of $30.25. It has 2,000 shares of preferred stock with a par value of $5 and a market value of 15$. It has debt with a book value of $200,000 and a market value of $500,000. The company's tax rate is 40%. What is the firm's WACC? a. 8.79% b. 6.99% c. 7.68% d. None of the above