A corporation has 10,000 bonds outstanding with a 6% annual coupon rate, 8 years to maturity, a $1,000 face value, and a $1,100 market price. The company's 100,000 shares of preferred stock pays a $3 annual dividend, and sell for $30per share. The company's 500,000 shares of common stock sell for $25 per share, have a beta of 1.5 , the risk-free rate is 4%, and the market return is 12%. Assuming a 40% tax rate, what is the company's WACC