A firm has book value of equity of $333 million. Its market capitalization is $600 million. It has $150 million in debt and $40 million in cash and short-term investments on the balance sheet. Its CAPM beta is 1.4, the yield to maturity on its debt is 5%, the corporate tax rate is 20%, and the required return on its equity is 11%. What is this firms WACC?

Group of answer choices

7.7%

8.5%

9.9%

11.8%

12.2%