A company most recently paid $5 million in dividends and $3 million in interest expense. The company's cost of debt is 5% and its cost of equity is 12%. The balance sheet shows a total debt ratio of 40% and the income statement indicates an average tax rate of 25%. According to the formula for WACC, what is this company's cost of capital?

If possible, no excel. Id like to see how the answer is done. Ty