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A company has the following information. Debt: 2 1 , 0 0 0 bonds outstanding, 6 percent coupon, $ 1 , 0 0 0 par

A company has the following information. Debt: 21,000 bonds outstanding, 6 percent coupon, $1,000 par value, 15 years to maturity, selling for 102 percent of par; the bonds make semiannual coupon payments. Common stock: 300,000 shares outstanding, selling for $56 per share; the beta is 2.20. The company's tax rate is 25 percent. The market risk premium (MRP) is 7.0 percent and the risk-free rate is 3.0 percent. Find the company's weighted average cost of capital (WACC).
9.21%
9.65%
10.09%
10.53%
10.97%

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