A firm uses 60% equity and 45% debt for all of its financing needs. Shares of the common stock sell at $46. The company expects to pay $1.50 in dividends next year and increase that amount by 4% annually. The bonds have a 7% coupon rate and a yield -to- maturity of 6.8%. the company has a beta of 1.40 and a 34 % marginal tax rate . what is the WACC?