A corporation has 10,000 bonds outstanding with 6% coupon rate, semi-annual coupon payments, 8 years to maturity, $1,000 face value, and $1,100 market price. The company's 500,000 shares of common stock sell for $25 per share and have a beta of 1.5. The risk-free rate is 4%, and the market risk premium is 8%. The company's 100,000 shares of preferred stock pay a $3 annual dividend, and sell for $30 per share. Assuming a 21% tax rate, what is the company's weighted average cost of capital? Step 1: Component costs of capital o Step 2: Capital structure weights Step 3: WACC