A company recently hired you as consultant to estimate the company's WACC. The firm uses the dividend discount model to estimate the cost of equity. Use the following data to calculate the WACC

Before tax cost of new debt $=8\%$

tax rate $=22\%$

target market debt$-$to$-$equity ratio $=0\mathrm{.}75$

current stock price $=$$$30$

Do $($dividend just paid$)=$$$1\mathrm{.}20$

Estimated growth rate $=5\%$