A firm maintains a debt-to-equity ratio of 0.35 and has a tax rate of 26%. The company does not issue preferred stock but has a pre-tax cost of debt of 6.25%. There are 20,000 shares of the company's stock outstanding with a beta of 0.9 and market price of $22.80. Yesterday, the company issued an annual dividend in the amount of $1.45 per share. Dividends are expected to grow at 2.34% indefinitely. What is the company's weighted average cost of capital? 6.98% 7.17% 7.37% 7.56% 7.75%