A firm has 2,000,000 shares of common stock outstanding with a market price of $15.00 maturity for these bonds is 11%. It has also issued 400,000 preferred shares whose market price is $35 each and annual dividend is $3.50 per share. The firm's beta is 1.2, the risk rce rate is 4%, and the market rate of return is 13%. The tax rate is 21%. Compute the WACC for this firm. (10 points)