A companys long-term financing includes common shares, preferred shares, and a bond issue. There are 4.1 million outstanding common shares. The current share price of $26.80 with a cost of equity is 16%. There are 2.3 million of preferred shares outstanding currently trading at $26.60 a share. The companys tax rate is 30%. The cost of preferred equity is 9%. Finally, there is $100 million of face value bonds outstanding with a quoted price of 92.5. The yield to maturity for the bonds is 6.50%. Calculate the companys WACC. Select one:

a. 10.55%

b. 9.74%

c. 9.58%

d. 10.36%

e. 10.08%