A corporation has 10,000 bonds outstanding with a 5% annual coupon rate, 10 years to maturity, a $1,000 face value, and a $1,100 market price. The companys 100,000 shares of preferred stock pay a $2 annual dividend and sell for $25 per share. The companys 200,000 shares of common stock sell for $20 per share and have a beta of 1.2. The risk-free rate is 4%, and the market return is 12%. Assuming a 21% tax rate, what is the companys WACC?

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